Coldplay and Qatar Dollars Argentina devalues its currency by sectors.

Although Argentina's official currency is the peso (ARS), the country's Central Bank always keeps a close eye on the US dollar (USD) so it can carefully manage its foreign currency reserves. But the ARS-USD exchange rate is also used to gauge the local economy's overall health, and numerous fiscal crises in the past have sensitized Argentines such that any sharp peso depreciation is viewed as a sign that things aren't going well and may soon get much worse.

President Alberto Fernandez's administration officially...