Tag: US dollar restrictions

US dollar restrictions
Saturday, September 8th 2012 - 05:20 UTC

Argentina limits dollar trading for arriving tourists in ports and airports

Only state run banks and agencies are allowed to operate in ports and air terminals such as Ezeiza

The Argentine government is further tightening the US dollar clamp. On Thursday the Central bank announced that state-run banks and agencies will be the only ones officially allowed to operate foreign currency exchange offices in airports and ports.

Wednesday, September 5th 2012 - 06:13 UTC

Real estate sales in Buenos Aires City lose steam for eighth month running

The number of operations in the capital dropped 17.6% in seven months over a year ago

Real estate sales in Buenos Aires City dropped for the eighth month running in July and 27.6% over a year ago because of the US dollar clamp according to the monthly evolution index of sales documents from the Notaries College of the Argentine capital.

Tuesday, August 28th 2012 - 04:29 UTC

Buenos Aires Aires real estate market faces the challenge of slowdown and ‘pesification’

Thousands of construction workers have lost their jobs

The Argentine real estate market has witnessed stunning growth over the last decade but growth of the sector appears to have come to an abrupt and dramatic end in the seven months of this year.

Thursday, August 16th 2012 - 02:26 UTC

Mujica working for more trade agreements and a Mercosur with ‘flexibility’

 “We can’t have all eggs in the same basket”, said the Uruguayan leader

Uruguay needs “new markets and new partners” and must try to diversify trade with the largest possible number of agreements to make Mercosur more flexible and anticipate the current process in Argentina, said President Jose Mujica.

Tuesday, August 7th 2012 - 17:06 UTC

Argentine foreign currency credit cards included in the strict dollar “clamp”

More impediments for Argentine residents wanting to travel and spend overseas

Credit card companies operating in Argentina have also fallen under the net work of the tax office AFIP, and now must request authorization and approval to purchase US dollars to balance their clients’ accounts.

Saturday, July 21st 2012 - 06:44 UTC

Argentine collar clamp has sentenced businessman ‘trapped’ in Uruguay

The Argentine resident is under arrest in a Punta del Este hotel

An Argentine businessman who was sentenced in Uruguay to home arrest following a car accident in which one person died remains at the location of the crime because his family in Argentina have been unable to purchase the 5.000 US dollars bail needed for his release.

Monday, July 9th 2012 - 19:59 UTC

Morgan Stanley cuts Argentina’s growth estimates and forecasts 2013 devaluation

Argetnina's economy is facing a hard landing, says Daniel Volberg

Morgan Stanley has cut its 2012-13 growth forecasts for Argentina and forecasts a sharp devaluation of the Argentine peso next year as the economy starts to unravel amid high inflation and policy missteps.

Saturday, July 7th 2012 - 00:35 UTC

Argentine central bank announces “pesification” of real estate operations

Mercedes Marcó del Pont explained the new priorities for US dollars from exports

Following the official new curbs on US dollar purchasing for savers, the head of the Argentine Central Bank Mercedes Marcó del Pont came on stage to defend the measure and anticipate that operations in the real estate market will have to be done in Argentine Pesos.

Thursday, July 5th 2012 - 22:30 UTC

Argentina further tightens “dollar clamp”, bans all greenback’ purchases for savings

Cristina Fernandez is after all the dollars available

The Argentine Central Bank announced on Thursday it will officially ban the purchase of dollars for savings, the latest in a series of measures to discourage the buying of greenbacks.

Wednesday, June 13th 2012 - 08:21 UTC

Argentine dollar restrictions intensify malaise in real estate and the wider economy

An additional problem for the real estate market is the underdeveloped mortgage market

On June 7 the Argentine government presented a bill to require debt and new contracts are denominated in pesos, while the government is mulling the de-dollarisation of real estate contracts. This would make real estate purchases even more difficult than they currently are in a country with ever-tightening capital controls.

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