Argentina's peso currency sank in widely used parallel markets on Thursday, hitting a record low against the U.S. dollar as concerns grew about the Latin American country's economy, with 104% inflation, reserves dwindling and drought hitting exports.
The black market peso , one of several unofficial rates that have flourished as tight capital controls have limited access to official forex markets, weakened almost 4% to 438 per dollar, roughly double the official rate of 218 pesos.
Argentina, the world's top exporter of processed soy and a major supplier of corn, beef and wheat, is battling to keep its economy stable as a historic drought crimps foreign currency income, fans local prices and drains central bank reserves.
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