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Traders in Argentina have figured out a loophole that generates a 7% return in mere minutes. Here’s how they pull it off.
The fully-legal trading method uses the difference in the official exchange rate and brokers' exchange rate to net thousands of pesos in profit.
Argentina just brought in currency controls to contain the peso after it lost more than a quarter of its value in a month
Investors have been fleeing from Argentina as the risk of a populist government has grown in recent months.
Argentina's central bank hiked rates by 15 percentage points to 60% on Thursday after the peso continued to slide despite the country already having the highest borrowing rates in the world.