Argentina peso falls 1.63pc to 38 per dollar

BUENOS AIRES: Argentina's peso fell 1.63 pct on Tuesday in early afternoon trading to 38 per dollar, pressured by weakness in other emerging market currencies, traders said.

That was a reversal from last week, when peso rose slightly on expectations of Argentina's re-negotiated financing agreement with the International Monetary Fund, which the South American country announced it would seek after the peso lost 16 percent of its value in late August.

The currency has lost nearly 51 percent of its value against the dollar this year.