Reported 1 day ago
Argentina's central bank is taking significant steps towards dollarizing the economy, requiring payment intermediaries to enable debit card transactions in US dollars by February 28, fulfilling President Javier Milei's promise. The bank also introduced a program allowing transactions in either dollars or pesos but decided to keep interest rates steady at 32%, which has disappointed investors anticipating a cut. Despite ongoing capital controls and significant annual inflation rates dropping to 117.8%, these moves signal a commitment to dollarization and increased currency competition in the country.
Source: YAHOO