Argentina restores single forex market, paving way for devaluation
US Fedral reserve
Buenos Aires - Arab Today
Argentine Finance Minister Alfonso Prat-Gay said Wednesday the country will scrap the foreign exchange restrictions that led to separate official and black-market rates for the peso, setting up a potentially painful devaluation.
"We are pleased to be able to announce the end of exchange rate restrictions," he told a press conference, saying the country "is normalizing its economy" after four years of forex controls under the previous president.
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