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Unintended consequences of Argentina's currency control
Talk about unintended consequences! The latest attempt by Argentina to reduce currency flight made the situation worst. Above is the currency exchange rate of United States Dollar (USD) vs. Argentine Peso (ARS) last week. See the huge spike? What happened? January 22, 2014, BBC reported: “Argentina has introduced new restrictions on online shopping as part of efforts to stop foreign currency reserves from falling any further. Anyone buying items through international websites will now need … Read More →