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Argentina details easing of dollar control

By Washington Examiner
Published January 27, 2014 5:51pm ET
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Argentina details easing of dollar control
A man points forward as he passes in front of a board displaying going rates of U.S. dollars at a foreign exchange business in Buenos Aires, Argentina, Monday, Jan. 27, 2014. The Argentine government announced Friday it was relaxing restrictions on the purchase of U.S. dollars. The measure would start taking effect Monday, allowing Argentines to buy pesos for personal savings, reversing a 2012 restriction. (AP Photo/Natacha Pisarenko) | Natacha Pisarenko

BUENOS AIRES, Argentina (AP) — Argentines will be able to buy up to $2,000 per month if they’re up to date with their tax payments, the government said on Monday during the release of the first details of its easing of currency controls.

Argentina announced on Friday it was relaxing restrictions on the purchase of U.S. dollars. The decision was forced by double-digit inflation and the hardest drop in the local peso’s value in 12 years.

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