Companies that participate in Argentina’s natural gas production plan will have free access to the official foreign exchange market, the central bank said this week, opening a loophole in tight capital controls that have been in place for more than a year.
Argentina’s Peso closed stronger on Thursday, but remained outside the limits of a trading band set by the central bank after it intervened in the market by buying US$ 20 million.
Argentine equities and the peso both lost ground on Monday as analysts said intervention in the foreign exchange market by the nation's central bank may prove less successful than originally hoped.
Argentina’s Economy Minister, Amado Boudou, came on stage again on Tuesday to bring calm to markets Monday’s debut of the very strict measures in the foreign exchange market strongly limiting the purchase of US dollars.