Argentina's peso under pressure

ARGENTINA - Argentina's currency, the peso, has fallen sharply on the money markets after a one-week suspension of trading.

It was the first day the peso was allowed to float freely, after the failure of the government's dual-exchange rate system of fixed international rates and floating domestic rates.

Shortly after the markets opened it took 2.30 pesos to buy one dollar - a drop of 9%. For the past 11 years, until the beginning of January, the exchange rate to the dollar had been fixed one

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