Argentina delays floating peso

ARGENTINA - The Argentine Government has extended the closure of banks and foreign exchange centres for another two days, suspending plans to fully float the peso.

The government made the order to try to prevent a run on bank deposits by people trying to convert their savings to US dollars.

Banks and other currency traders have remained shut since Sunday when the government announced an end to exchange rate controls - a move expected to send the value of the pesos plummeting.

A run on the banks

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