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Argentine peso hits record low of 14 per dollar on black market
August 21, 2014 / 6:32 PM / in 3 years

Argentine peso hits record low of 14 per dollar on black market

BUENOS AIRES, Aug 21 (Reuters) - Argentina’s peso currency fell 3.2 percent to a new record low of 14.0 per dollar on the black market on Thursday, traders said, in reaction to the latest escalation in the country’s battle with holdout creditors.

Foreign exchange controls force most Argentines to buy dollars on the black market, which is widely seen as a truer rate of exchange than the official rate, which depreciated on Thursday by 0.83 percent to 8.3925 to the greenback. (Reporting by Walter Bianchi; Writing by Sarah Marsh; Editing by Diane Craft)

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