Argentina reimposes currency controls as peso plummets

Authorities aim to stem depreciation of peso, down 23.9% against dollar since August 11

The Central Bank of Argentina
The Central Bank of Argentina: series of measures designed to “maintain exchange stability and protect savers”
Javier Pierini

The Argentine government reimposed currency controls on September 1, in a bid to stem capital outflows and the abrupt depreciation of the peso.

In a statement, the Central Bank of Argentina detailed a series of measures designed to “maintain exchange stability and protect savers”, which came into force on September 2.

Since president Mauricio Macri lost the primary elections to left-wing opposition leader Alberto Fernández on August 11, the peso has depreciated by 23.9% against the greenback,

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