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Argentina’s Peso Plunges After Central Bank Tightens Foreign Exchange Controls: Citizens Discuss Bitcoin Adoption

The Argentine peso plunged by more than 10% shortly after the country’s central bank announced measures to tighten controls on the movement of foreign currency. The peso, which is officially pegged at 72 for every USD, touched new lows of 145 to the greenback on the black market. The latest plunge is seen as a further boost to bitcoin and other cryptocurrencies in a country that has been plagued by currency challenges for over a century. Still, in a statement released on its Spanish language website, the Board of the Central Bank of the Argentine Republic (BCRA) justifies the new…

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