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Savers Pile Into Crypto as Argentinian Peso Falls Further

2 mins
Updated by Kyle Baird
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In Brief

  • A new 35 percent tax on USD savings deposits and overseas purchases has not eased pressure on the Argentinian peso.
  • The peso fell sharply by 3 percent following the announcement as panicked Argentinians continue to hedge against devaluation.
  • Argentinian crypto trading volumes continue showing strong annualized growth.
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David Hundeyin
David is a journalist, writer and broadcaster whose work has appeared on CNN, The Africa Report, The New Yorker Magazine and The Washington Post. His work as a satirist on 'The Other News,' Nigeria's answer to The Daily Show has featured in the New Yorker Magazine and in the Netflix documentary 'Larry Charles' Dangerous World of Comedy.' In 2018, he was nominated by the US State Department for the 2019 Edward Murrow program for journalists under the International Visitors Leadership...
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