Argentina Tightens Capital Controls Ahead of Midterm Vote
- Central bank prohibits cash transfers to third party accounts
- Gap between official and blue-chip peso is slowly widening
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Argentina’s central bank is making it harder for investors to buy dollars as the already draconian capital controls fail to stop the gap between the official and parallel exchange rates from widening.
Regulators are tightening the screws on operations where investors buy assets in pesos and sell them abroad in dollars to obtain foreign currency. The measures, aimed at money laundering and tax evasion, were announced late Thursday.