Argentina’s currency controls help stabilise peso and reserves

Uncertainty about the fiscal policies of the incoming president is contributing to falling bond prices

The Central Bank of Argentina
The Central Bank of Argentina
Javier Pierini

The Central Bank of Argentina (BCRA) appears to have succeeded in stabilising the exchange rate with the tougher currency controls it implemented after the October presidential election.

Following the election of left-wing opposition leader Alberto Fernández on October 27, the BCRA reduced citizens’ access to US dollars sharply in a bid to stem the continuous depreciation of the peso.

The central bank stipulated that individuals can only purchase up to $200 per month through debit cards with

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