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16 February 2010

ARGENTINA: Peso Touches All Time Low.

BLOOMBERG/   The peso touched a record low of 3.8627 per $USD. The previous low was 3.86 in June 2002. Investors bought $USD fearing the government will weaken the peso to increase tax revenue from commodity exports. Also in Buenos Aires, some consumers are calling for a beef boycott, complaining that prices have risen by 40-50% since December.
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Labels: beef boycott, new peso low
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