Argentine Regulations Cause Dollar Shortages, Worsen Peso’s Downward Spiral

Controls on the purchase and sale of dollars caused the currency exchange rate to skyrocket on the parallel market.

RIO DE JANEIRO, BRAZIL - The Argentine peso is in its umpteenth distressing situation. The "supercut" imposed last week on the foreign exchange market has blocked the Central Bank's foreign exchange drain, but has exacerbated the anxiety of entrepreneurs, savers, and speculators.

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