The Argentine government plans to introduce tighter controls on the purchase of dollars in the country, in a bid to reduce capital flight and build up its foreign-currency reserves.
The country’s central bank is expected soon to implement a new rule that will allow it to check that people who buy more than $250,000 a year have the income and wealth to do so according to their filings with the Argentina tax authorities. If they do not, the bank will prevent them from purchasing the dollars. The central bank will also restrict local commercial banks from selling more than $20,000 a month to a client and will ensure that this is carried out only from...
