Buenos Aires - Argentina's central bank intervened in the country's foreign exchange market Wednesday with an injection of 1 billion dollars to contain the depreciation of the peso.

In the early hours of activity, the dollar rose 2.08 per cent against the peso to 3.43 pesos from 3.36. The Central Bank's intervention brought it down to 3.39 pesos, an increase of 0.9 per cent in relation to the previous day's closing.

Since early September, the peso has depreciated by 11.1 per cent, and the rate has increased in the past week in the wake of a government project to nationalize private pension schemes.

Financial uncertainty in Argentina has led people to seek refuge in the dollar, increasing demand and pushing up its price. (dpa)