Argentina rejects multiple exchange-rate regime, minister says

BUENOS AIRES Tue May 7, 2013 4:25pm EDT

BUENOS AIRES May 7 (Reuters) - Argentina's government rejects the possibility of creating a multiple exchange-rate system, Economy Minister Hernan Lorenzino said on Tuesday, knocking down speculation among some market players and local economists.

The Argentine peso pierced the psychological barrier of 10 per U.S. dollar on Tuesday on the black market, widening the spread versus the official interbank rate to 93 percent.

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