Argentina raises deposit insurance ceiling: reports

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Argentina has raised its deposit insurance cap as the central bank continues to introduce measures to adjust to the effects of rising inflation in the country.

The Wall Street Journal, a financial newspaper, on Tuesday reported that the Central Bank of Argentina had quadrupled the guaranteed insurance on bank deposits in the country to Ps120,000 ($30,000) from Ps30,000, placing the new limit closer to regional neighbours Uruguay, which imposes a $29,040 cap, and Brazil, where the cap is $35,531.

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