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As Argentines dump pesos for dollars, president seeks to mop up excess

Central bank has drained 97b pesos from economy this year by tightening monetary policy

Ms Fernandez began her leadership in 2007 by flooding the nation with pesos to spur consumption but the plan has backfired

Buenos Aires

PRESIDENT Cristina Fernandez de Kirchner can't keep Argentines from dumping their pesos for dollars. So she's trying a different tack: draining a record amount of local currency out of the economy instead.

This year, the central bank has removed 97.2 billion pesos (S$...

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