Argentina Acts Against Forex Speculation

Argentina is making progress in its fight against speculative and unauthorized foreign exchange operations. The Central Bank has increased its control over such forex transactions, with the aim of reducing black market operations. In the first three months of 2015, authorities seized US$300,000 in speculative transactions and authorities warn that future inspections will be stricter. Speculation in foreign currency is rooted in fears of a major devaluation of the Argentine peso. To help deal with this situation, specialists are calling on the government to boost its international reserves to maintain the exchange rate. Laureano Ponce reports from Buenos Aires. teleSUR