Argentine authorities have begun to impose restrictions on foreign currency exchange, while the first queues of customers worried about their savings and seeking to withdraw their dollars are in front of banks. Under a decree issued by President Maurizio Macri and published in the official gazette, exporters are required to obtain permission from the central bank before buying foreign currencies.
The decree also requires government permission to transfer money abroad. Individuals are not allowed to buy more than $ 10,000 per month. However, the restrictions that will take effect until the end of December did not include withdrawals in dollars from bank accounts.
Following Macri's decision to impose restrictions on individuals and companies regarding the purchase and conversion of currencies, the Argentine currency rose by 5.38% at the close of trading Monday to 58.41 pesos per dollar. The Buenos Aires Merval index jumped 6.45% on Monday.
This article "The introduction of restrictions on foreign exchange in Argentina" is adapted by BaladNews and we quoted from the newsletter (Lebanon). The original is the bulletin (Lebanon).
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