Buenos Aires (AFP) - Argentina appears to have resolved, at least in the short term, the crisis over the peso and its depreciation by taking drastic action -- but analysts warn the policy is untenable over time.
To sustain the Argentinian peso, the Central Bank raised its benchmark interest rate up to 40 percent and injected more than $10 billion into the economy.
A crisis of confidence in the peso saw it plunge nearly 20 percent over six weeks as investors concerned by Argentina's high inflation yielded to the lure of a strong dollar...
Source:yahoo.com