Argentina hikes interest rate to 60 percent; peso plunges

  • A woman watches news regarding U.S. dollar rates in Buenos Aires, Argentina, Thursday, Aug. 30, 2018. Argentina’s Central Bank on Thursday 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 new record low. (AP Photo/Natacha Pisarenko)

  • A man enters to an exchange house in Buenos Aires, Argentina Thursday, Aug. 30, 2018. Argentina’s Central Bank on Thursday 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 new record low. (AP Photo/Natacha Pisarenko)

BUENOS AIRES, Argentina — Argentina’s Central Bank on Thursday 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.

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