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Argentina's Central Bank will combat inflation and freeze the supply of the country's currency, the peso.
Golden Finance reported that the Argentine Central Bank will start selling US dollars in the country’s parallel forex market to combat inflation and freeze the supply of the country’s currency peso. Argentine Minister of Economy Caputo announced this new strategy on X platform, stating that it will “help deepen the deflation process”. Caputo said that starting next Monday, when the Central Bank of Argentina buys dollars in the regular forex market, it will effectively balance Argentina’s monetary base by selling an equivalent amount of dollars in the parallel ‘CCL’ forex market.