PayPal Blocks Argentine Peso-to-Dollar Conversions

Online payment service PayPal will prevent users in Argentina from making domestic transfers. PayPal users in Argentina will only be able to send and receive "international payments" starting on Oct. 9. The move is apparently linked to the Argentine government's 2011 decision to restrict the purchase of US dollars, a move implemented either to prevent tax evasion and money laundering, or to prop up the value of the peso, depending on whom you ask. This created a black market for U.S. dollars, and because PayPal's exchange rates were more palatable than the black market's.

Source: http://ectnews.com.feedsportal.com/c/34520/f/632000/s/238e69f0/l/0L0Stechnewsworld0N0Crsstory0C761810Bhtml/story01.htm

MAXIMUS MANTECH INTERNATIONAL MANHATTAN ASSOCIATES LSI LINEAR TECHNOLOGY