BCRA requires prior approval for all FX requests

Virtual freeze on exchange as Pesce and other directors make way for Milei’s picks

The Central Bank of Argentina
Javier Pierini

The Central Bank of Argentina (BCRA) announced it will require “prior approval” before granting any requests for foreign currency on December 11. The policy – interpreted essentially as a halt to all hard currency sales – is a temporary measure as the new president replaces the central bank’s leadership.

In a statement, the BCRA explained the regulation was “put in place to give the executive branch time to fulfil the administrative processes for confirming the new leadership [of the central bank

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