Argentina’s currency controls help stabilise peso and reserves

The Central Bank of Argentina
Javier Pierini

The Central Bank of Argentina (BCRA) appears to have succeeded in stabilising the exchange rate with the tougher currency controls it implemented following the October presidential election.

After the election of the left-wing opposition leader Alberto Fernández on October 27, the BCRA sharply reduced citizens’ access to US dollars in a bid to stem the continuous depreciation of the peso.

The central bank stipulated that individuals can only purchase up to $200 per month through debit cards

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