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Argentina’s central bank introduces currency control to protect the peso
Argentina’s government has imposed currency controls in a bid to stabilize financial markets, as Latin America’s third-largest economy faces a deepening economic crisis.
The temporary measures, announced on Sunday, allow the government to restrict foreign currency purchases following a sharp drop in the super-sensitive peso.
All companies must now request permission from Argentina’s central bank to sell pesos and buy foreign currency to make transfers abroad.
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