American Airlines No Longer Accepts Argentine Peso – Opportunity for BitcoinAccording to the statement released by American Airlines, the company is no longer accepting Argentine Peso payments due to “no inventory available for purchases in this currency due to repatriation issues”. For those who can not read between the lines: American Airlines is having issues when trying to convert Argentine Peso to US Dollar.
Due to this decision, it is impossible to book any flight with Argentine Peso for the time being. However, American Airlines still accepts purchasing made by Argentinians using foreign credit cards denominated in a different fiat currency; It is no secret how the Argentine peso has been losing a lot of its value over the past years, and it looks like there is no improvement in sight anytime soon.
Truth be told, this issue is not entirely American Airlines’ fault either. The company is falling victim to several things going in Argentina itself, which is limiting any business manoeuvrability. With Argentina’s central bank reducing the daily amount of money foreign companies can bring back to the US, there is very little room for major businesses to operate as normal.
To make matters even worse, there are major changes coming to Argentina’s currency. Now that a new President has been elected, major economic reforms have been announced. Among those reforms is ending the government’s currency controls, which can turn out to be either positive or negative.
http://themerkle.com/news/american-airlines-no-longer-accepts-argentine-peso-opportunity-for-bitcoin/
