Brazil cenbank says monitoring Argentina's situation

BRASILIA Fri Jan 24, 2014 8:32am EST

BRASILIA Jan 24 (Reuters) - The Brazilian central bank is very closely monitoring economic developments in Argentina, a bank official said on Friday, a day after the neighboring country's peso currency suffered its steepest daily decline in 12 years.

The bank's deputy chief of economic research Fernando Rocha said the devaluation could have an effect on Brazil, but declined to elaborate.

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