History shows multiple currencies breed corruption

ARTICLE - History suggests that multiple currency regimes like Argentina's two-tiered foreign exchange system distort economic activity, invite corruption and in some cases can cause mass amounts of foreign reserves to vanish overnight.

France, Italy, Egypt, Brazil and Venezuela have all tried setting different foreign exchange rates for different areas of their economy, but soon learned that a single exchange rate determined by financial markets was the only way to build credibility for a nation

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