Paypal suspends domestic transactions in Argentina

[buckworks]

http://www.bbc.com/news/technology-19605499

Paypal is to prevent users in Argentina from transferring money between their own accounts.

The online payment service said that from 9 October: "Argentina resident Paypal-users may only send and receive international payments."

[dogboy]

Argentina suffers a high inflation rate - private economists say prices are increasing by about 24% a year.

This adds to a general lack of confidence in the local currency caused by memories of its depreciation during the economic crisis of 2001.

Many residents have tried to protect their savings against the risk of further turmoil by putting the money into more stable currencies.