What happened to the peso when the Argentine government succumbed to the market forces in 2002?

Question

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When a currency depreciates, it loses value compared to other currencies. In 2002, the Argentine government abandoned the pegged exchange rate system and allowed the market forces to determine the value of the peso. The peso depreciated significantly, losing about 70% of its value against the US dollar. This meant that it took more pesos to buy the same amount of dollars, making imports more expensive and exports cheaper. This move was necessary to address the country's economic crisis, but it also led to inflation and other challenges.

What Happened to the Peso When the Argentine Government Succumbed