President Mauricio Macri’s government has imposed foreign-exchange controls on Argentine exporters. A week of financial uncertainty has led to a sharp drop in the value of the peso.
In an effort to prop up the peso, authorities ordered exporters and citizens to seek permission from the Central Bank of Argentina before purchasing foreign currency or making transfers abroad, according to a decree published in the Official Bulletin on Sunday.
In the wording of Sunday’s decree, the temporary measures would “regulate more intensely the currency exchange regime and strengthen the normal functioning of the economy.”
Individuals seeking to buy dollars now face a monthly limit of $10,000 (€9,100). All these new measures will remain in place until December 31.
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WNU Editor: Considering who is likely to be the enxt President …. Conservative Argentine President Macri Suffer A Massive Defeat In Primary Elections On Sunday (August 12, 2019) …. if I had money in Argentina I would be looking for a way out.
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