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Argentina Unveils Currency Measures as Black-Market Peso Slumps

  • Government loosens currency rules for importers, tourists
  • Black-market peso has weakened to record of 335 per dollar
The Central Bank of Argentina in Buenos Aires, Argentina, on Thursday, July 7, 2022. 

The Central Bank of Argentina in Buenos Aires, Argentina, on Thursday, July 7, 2022. 

Photographer: Pablo E. Piovano/Bloomberg
Updated on

Argentina unveiled a slew of currency measures for foreign tourists, importers and local companies that aim to shore up the currency amid a month-long slump in the country’s unofficial exchange rates.  

Importers of strategic sectors in the economy will have more access to dollars, the government said in a statement Thursday, as it seeks to avoid shortages of imported goods. Meanwhile, foreign tourists who are not residents in Argentina will be able to exchange as much as $5,000 for pesos at a more lucrative exchange rate than the official one.