Argentina on Sunday devalued its currency by nearly 29% as European governments appealed for their companies to be protected from the fallout. The new "official" peso rate will be 1.40 to the US dollar - broadly in line with expectations - with the currency floating on unofficial markets from Monday. The government said its objective was to free the currency entirely in less than six months. Jorge Remes Lenicov, economy minister, conceded that the IMF had objected to the dual exchange rate plan.