BUENOS AIRES, Aug. 14 (Xinhua) -- After hitting a record low against the U.S. dollar on Monday and plummeting to below 30 cents, the Argentine peso rebounded slightly on Tuesday.
It climbed to trade at 30.38 against the dollar following a series of financial measures to shore up the currency, including Argentina's central bank selling off 200 million dollars.
Market analysts also attributed the recovery to announcements made by the Finance Ministry to curb public-sector spending, including eliminating a fund for provinces whose resources come from foreign sales.
The measures are expected to save Argentina 65.5 billion pesos (2.26 billion dollars), according to the ministry.
On Monday, after the peso took a dip, the central bank hiked the benchmark interest rate to 45 percent in a bid to prevent capital flight, which is now the highest in any country in the world.
