A man shows Argentine pesos outside a bank in Buenos Aires' financial district, Argentina August 30, 2018. REUTERS/Marcos Brindicci/File Photo
DW: Argentina: Macri imposes currency controls as peso spirals
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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