Exchange service supports Argentina's USD black market
The difference in the official and unofficial rate for Argentinian pesos is now so pronounced that at least one bitcoin exchange has acknowledged it. Localbitcoins.com has decided to publish a 'blue dollar' exchange rate for the currency. The escrow-based decentralised bitcoin exchange service has produced a symbol for the blue dollar rate called XAR, and is using it to calculate bitcoin exchange rates. The black market rate in Argentina is a result of rocketing inflation, and tension over a possible default. This has led Argentinians to hoard dollars, while the authorities have imposed....
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