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Argentina buys up US dollars

2012-06-10 16 Dailymotion

Argentina's government has placed a virtual ban on purchases of foreign currency and is trying to buy every US dollar available as it bids to increase central bank reserves and repay government debt.<br /><br />President Christina Kirchner wants Argentinians to start saving in the country's peso currency. <br /><br />Those measures have forced thousands to the streets to protest against what they call the government's authoritarian ways. <br /><br />The country has one of the highest inflation rates in the world and many Argentinians would gladly trade their pesos for the more stable US dollar. <br /><br />This has led to the creation of a black market where it is possible for thousands to buy and sell dollars, escaping the government's control.<br /><br />Al Jazeera's Teresa Bo reports from Buenos Aires.

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