Argentina Bonds Fall With Tighter Foreign-Exchange Controls
- Country announces new restrictions for dollar purchases
- Controls unveiled as Argentina sends first budget to congress
Photographer: Andrew Harrer/Bloomberg
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Argentine bonds fell after the government expanded restrictions on foreign exchange in an attempt to hold onto U.S. dollars as reserves dwindle.
Benchmark sovereign notes that were issued just a few days ago after the country’s $65 billion restructuring lost about two cents on the dollar and debt from Argentine companies also declined. The peso weakened as much as 3% in the so-called blue-chip swap market that skirts government restrictions.