Argentina's banks are to remain closed again Tuesday as the government prepares to float the devalued peso on the open market Wednesday.

The move will end a controversial dual currency system, in which the peso is traded at 1.4 to the dollar for exports and imports, while its value for other transactions floats on the unofficial black market.

Analysts say President Eduardo Duhalde's decision to float the peso officially is aimed at helping the economy, which has been in recession nearly four years. Argentina has defaulted on $141 billion worth of public debt.

The pending change comes amid controversy over a decree by President Duhalde that suspends for six months all court challenges against unpopular banking restrictions. The curbs were imposed by a previous administration to prevent the massive flight of capital out of the financially-troubled country.

President Duhalde's decree orders banks to convert their U.S. dollars into devalued pesos to stop Argentines from using dollars. Mr. Duhalde made his decision Monday, three days after the Supreme Court ruled the banking curbs were unconstitutional.

Mr. Duhalde has criticized the high court ruling, saying it was politically motivated. He also says it came just 48 hours after Congress launched a probe into alleged corruption involving the justices.

Some information for this report provided by AP, AFP and DPA.

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