They haven't. Just down there last week. Hard to get US$$$ but not banned at all.

argentina is such a basketcase. this isn't the first time they'e defaulting.

They're about to default, and don't want a run on the dollar, meaning another loss on the Argentine peso.

Per the above link--they haven't banned ownership or use of US$--they've just made it hard for citizens to acquire it for savings.

Banana Republic

I'm not sure exactly what this is, but Argentina may default on its debt obligations. So it stands to reason tha they would fear the population starts demanding to be paid in US dollars, which further damages the Argentine currency.

I was talking to a friend who briefly mentioned that Argentina has banned US Currency. I felt completely out of the loop on what's going on in Argentina and had nothing further to say on the topic. Can you give me a brief explanation of what's going on?