An economic storm in Argentina

The board of an exchange house in downtown Buenos Aires reads the rate of 7.35 argentine pesos to one dollar, sale rate and 7.15 to buy, on January 23, 2014. The Argentine peso sank another 3.2 percent against the US dollar Thursday, roughly the same as Wednesday's drop as the currency's depreciation picks up base amid a rising financial crisis. 

It's been a dizzying 24 hours in Argentina. The peso plummeted 19 percent versus the U.S. dollar. It seems to be stabilized this morning at 7.9, down more than 8 percent from a day ago. The incident is a reminder of the economic turbulence in Argentina a little over a decade ago, with the currency swings that came the country defaulted on its debts. Click the audio player above to hear the BBC's Andrew Walker discuss the story.

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