Argentina imposes currency controls as peso plunges
The central bank has burned through nearly $1bn in reserves since Wednesday in an effort to prop up the peso
01 September 2019 - 22:51
Buenos Aires — The Argentine government authorised the central bank on Sunday to restrict purchases of dollars as it burns through its reserves in an effort to prop up the peso currency.
The measure, which is scheduled to be in place through the end of the year, means major exporters, which will need permission from the central bank to access the foreign exchange market to purchase foreign currency and make transfers abroad...
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