EFTA Document EFTA01379426

22 December 2017 EM Currency Handbook 2018: Still Fuel in the Tank remunerated deposit for some FX inflows. Abolishing the FX controls prompted the peso to depreciate by 30% against the USD in December 2015, prompting the central bank to raise interest rates to mitigate the inflationary effects. Since then, the ARS has depreciated further, keeping up with persistently high inflation rates in excess of 40% YoY. The ARS is now considered a fully floating currency by the IMF. Going