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Argentina Central Bank Takes Steps to Dollarize and Holds Rates
Argentina’s central bank said payment intermediaries will have to enable debit card transactions in US currency by Feb. 28, marking a key step in President Javier Milei’s pledge to dollarize the economy. The bank also developed a program to allow people to make installed payments in either dollars or pesos. The move aims to “bolster currency competition in order to allow people and businesses to use the currency they wish in their daily transactions,” according to a central bank statement on Thursday. Separately, the bank decided to keep its interest rate unchanged at 32% on Thursday, frustrating investors’ ... (full story)
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- Posted: Jan 16, 2025 4:21pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,460
