BUENOS AIRES -Argentina's central bank will start selling U.S. dollars in the country's parallel foreign exchange markets in an effort to combat inflation and freeze the country's money supply, the government said on Saturday.
"There are no more pesos printed in Argentina by any means. It is a historic novelty," Caputo later said in a radio interview."We were beating inflation by points and this is the 'knock out' blow," the minister added. The South American country's peso has been sliding since the beginning of the year in parallel markets, which for years has diverged sharply from the official rate due to strict currency controls.
"The monetary base in Argentina is no longer increasing, and this is tremendously powerful news," Milei said during a phone interview with Argentine news channel LN+, adding that the plan would"accelerate the deflation process in the economy."