Argentina Clamps Down on Loophole to Gain From FX Controls
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Argentina’s central bank is adding measures to curb trades aimed at profiting from capital controls.
Argentina’s central bank will require individual investors who buy dollars to hold those greenbacks for at least five days before they can buy bonds in the secondary market, according to regulation A 6780 released late Wednesday. To access FX markets, savers will have to submit a sworn declaration stating they won’t buy bonds within that timeframe.