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In January 2002, the Argentine Central Bank announced Peso value from Peso 1.00/$ to Peso 1.40/$, thus, the Argentine Peso ________ against the U.S. dollar.

  1. In January 2002, the Argentine Central Bank announced Peso value from Peso 1.00/$ to Peso 1.40/$, thus, the Argentine Peso ________ against the U.S. dollar.

    appreciated

    devalued

    depreciated

    revalued

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