People walk past an exchange house in Buenos Aires, Argentina Thursday, Aug. 30, 2018. Argentina's Central Bank increased its benchmark interest rate to 60 percent Thursday as the peso hit a new all-time low. The sharp devaluation of its currency has led prompted Argentina to seek a financing deal with the International Monetary Fund. But the peso keeps tumbling and it has hit markets and investor confidence in Latin America's No. 3 economy.AP Photo/Natacha Pisarenko
BUENOS AIRES, Argentina—Argentina’s Central Bank on Aug. 30 increased its benchmark interest rate to 60 percent—the world’s highest—in an effort to halt a sharp slide in the value of the peso, which plunged to a record low.
The peso fell more than 13 percent against the dollar on Aug. 30, closing at an all-time low of 39.2 per greenback, after slipping about 7 percent the day before.
