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Argentina installed foreign exchange controls in 2011, at the beginning of the second presidency of Cristina Fernández de Kirchner. Those controls limited the ability to buy or sell any foreign currency. The restriction was informally known in Argentina as Cepo cambiario (Spanish for 'exchange clamp').
Argentina's government authorized currency controls on Sunday in an about-face by President Mauricio Macri, who had previously lifted many protectionist practices of his predecessor, Cristina ...
Argentina's central bank late on Wednesday announced further currency controls in an effort to tame speculation and stem a spiraling debt crisis in Latin America's third largest economy. The new ...
Dollarization means Argentina would give up the peso and use the US dollar as its currency, effectively wresting control of monetary policy from the country’s central bank and handing it to the ...
Foreign exchange controls are various forms of controls imposed by a government on the purchase/sale of foreign currencies by residents, on the purchase/sale of local currency by nonresidents, or the transfers of any currency across national borders. These controls allow countries to better manage their economies by controlling the inflow and ...
Since the late 2010s, prolonged inflation remained a constant problem of economy of Argentina, with an annual rate of 25% in 2017, second only to Venezuela in South America and the highest in the G20. On December 28, the Central Bank of Argentina together with the Treasury announced a change of the inflation target. [11]
La Rioja made its own currency to boost the local economy after the national government cut cash transfers to provinces amid sky-high inflation.
A commonly used currency in the Americas is the United States dollar. [1] It is the world's largest reserve currency, [2] the resulting economic value of which benefits the U.S. at over $100 billion annually. [3] However, its position as a reserve currency damages American exporters because this increases the value of the United States dollar.