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Argentina allows banks to open yuan accounts: Economist says it could boost Chinese currency as safe alternative to US dollar

Byadmin

Argentina’s central bank has officially included the Chinese yuan as a recognized currency for making deposits into bank accounts. “Opening yuan accounts could entice more people and businesses to exchange Argentine pesos for yuan, more or less as a ‘safe haven’ currency, rather than exchanging all their local currencies for US dollars,” explained one economist….

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Argentina’s Central Bank to issue a new 2,000 peso note as inflation continues to rise

Byadmin

The Central Bank of Argentina has announced the issuance of a new 2,000 peso note, with the aim of alleviating the burden of using cash for payments in the country. The bill, which will be worth just over $5 USD blue (the informal exchange rate), is already being criticized as an insufficient measure. Central Bank…