The country's main stock exchange index Merval index closed down 10.44 percent at 27,233.19 points.
The new finance minister, Hernan Lacunza, and the head of the Central Bank, Guido Sandleris, convened a press conference on Tuesday before the opening of the markets. They assured that their main task was to guarantee the stability of the Argentine peso.
The national currency slightly weakened at the beginning of the day, to 58 pesos per US dollar from 57 pesos per dollar on Friday, but by the end of the day, the largest state bank in Argentina, Banco Nacion, returned the rate to 57 pesos. Other banks and exchanges in Argentina sold dollars for 57 to 59 pesos.