Argentina Limits Cash Transactions in Financial Markets
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Argentina limited the use of cash in the country’s financial markets as President Cristina Fernandez de Kirchner ramps up oversight of currency transactions.
The government will restrict daily cash transactions to 1,000 pesos ($231) per person, down from 10,000 pesos, according to a statement today in the Official Gazette. The measure affects activity in the stock and bond markets, investment funds and in the futures markets. Operations above the limit will have to be done through Argentine bank accounts that are authorized by the central bank.