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The exchange rate, peso to escudo, was one escudo was 1,000 pesos.
Keeping inflation in check probably requires either higher interest rates or allowing the peso to appreciate.
Argentina, which pegs its peso to the dollar, faces rising debt costs.
The answer might be to allow the peso to appreciate faster.
He privatized, deregulated and pegged the value of the peso to the dollar.
That capital flight could put enough pressure on the peso to force the government to devalue.
Political uncertainties sent the Philippine peso to a record low against the dollar; it fell by 1.7% during the week.
Shockwaves echoed through other Latin American bourses and dragged the Brazilian real and Chilean peso to historic lows.
As it is, Argentina's troubles dragged the Brazilian real and Chilean peso to record lows against the dollar this week.
Because of this, economists expect the peso to slide further as the central bank seeks to protect its reserves.
It has also meant making the most of the weak peso to export to markets outside Latin America.
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