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.