P.M. BRIEFING : Broke, Argentine Lets Austral Float
From Times wire services
BUENOS AIRES — Argentina’s battered currency was left to float against the dollar for the first time in 30 years today after the economy minister declared the state virtually broke.
Argentina had struggled to support its austral currency, which has lost nearly half its value in a whirl of hyperinflation since Economy Minister Juan Carlos Pugliese took office a month ago. The austral opened today at 79 to the dollar. It was worth 17 to the dollar in February.
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