Argentina sets new forex controls to prop up peso

ARGENTINA - Argentina's Central Bank on Monday introduced measures to tighten controls on the foreign exchange market in an effort to stop record falls in the peso that had threatened to throw the government's economic policy into turmoil.

Banks will be allowed to resume selling dollars as of now if they agree to buy-and sell-rates set by the Central Bank within the range of current market rates, after downtown Buenos Aires branches were restricted from foreign exchange trades earlier this yea