Currency exchange houses in Buenos Aires were today selling US dollars at a rate of AR$18.34 pesos, an increase of 11 cents that marked the seventh consecutive decline in the value of the Argentine peso.
End-of-year demand for the dollar among banks, companies and investors is not unusual.
Banks and foreign traders were selling dollars at AR$18.09. On the black market, buyers could expect to pay AR$18.38.
At the beginning of December, the dollar had dropped to AR$17.50, its lowest level in three months, on the back of complaints from industry about a loss of competitiveness.
In the first 11 months of the year, the peso shed eight percent of its value against an accumulated rate of inflation of 19.4 percent.