Argentine pesos have fallen sharply in recent weeks as US President Donald Trump and his administration take steps to roll back policies aimed at easing the country’s economy.
Argentina’s currency fell to $1.1200 by the end of Thursday, down from its all-time high of $1,2380, according to the countrys central bank.
The central bank has also started printing money.
US Treasury Secretary Steven Mnuchin said on Thursday the US would not be “caught off guard” by the currency devaluation, as other countries have been, according the Wall Street Journal.
The peso is now trading at about 60 cents, compared to $2.70 in mid-December, and is trading at $1-2.20 in Argentina, according a Reuters poll of analysts.
The US dollar is also trading at roughly $1 around the world.
The dollar index, a measure of the greenback against a basket of other currencies, was trading at 96.5 US cents on Thursday.
The euro is trading lower, at $2 per euro.
The yen has weakened by about 1% against the yen.
The yuan is trading between about 70 and 80% of its September high of about 7.75 to 7.90 yuan.