Informal exchange rate in Argentina hits historic high

The informal exchange rate to dollars in Argentina reached a historic point on Friday. The currency was selling at 439 pesos per unit compared to the 433 pesos that it averaged the previous day, its highest historical value.

Being an informal value, almost doubling the official value of the dollar set by the Argentina Central Bank, it's out of the government's control.Official inflation numbers reported last week showed an increase of 7.7% during March.

Annual inflation rose to 105%.Rent, food and medicines are some of the most affected items.Argentine people have already seen a loss of a fifth of their money's value since the year began.