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BUENOS AIRES: Argentina's central bank hiked its benchmark interest rate to 40 percent Friday to support the peso after it plunged in value the day before.

The bank had raised its key rate to 33.25 percent on Thursday but that move failed to prevent a seven percent drop in the national currency.

The peso has lost more than 10 percent of its value over the past month.

Copyright AFP (Agence France-Press), 2018
 

 

 

 

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