Argentina to ban purchase of dollars with cheques

ARGENTINA - Central Bank Director Aldo Pignanelli said that the bank will not be allowed from tomorrow to accept payment by cheque for the dollars they sell.

He told newspaper Clarin that the central bank will strengthen its control over the floating dollar market.

The central bank will also prevent financial institutions and bureaux de change re-selling dollars at more than 5 cents above the price at which they bought them.

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