The market for foreign exchange P2 mark scheme
The value of Argentina's peso continued to fall on Thursday, plunging by more than 13% after a 7% drop a day earlier. The decline came despite the central bank's effort to stabilise the currency by raising a key interest rate to 35%. The bank said Thursday's rate hike, from 25% to 35%, was a "response to the foreign exchange rate situation and the risk of greater inflation". It had already increased interest rates...