Reuters: US Dollar Report: FXNEWS-Argentine peso hits new low on dollar demand

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FXNEWS-Argentine peso hits new low on dollar demand Apr 24th 2012, 20:40 Tue Apr 24, 2012 4:40pm EDT Argentina's peso closed at a fresh low in formal, interbank trade on Tuesday, pressured by persistent safe-haven dollar-buying that has accelerated following the government's move to seize control of energy company YPF, traders said. The peso fell 0.11 percent to 4.41/4.4125 per dollar. On the black market, as measured by Reuters, the peso sank a hefty 1.76 percent to 5.11/5.13 per dollar in light trade. Tight government controls on foreign currency purchases have driven many savers to pay a premium to buy greenbacks in the black market, widening the spread with the official rate.

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