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Economic slowdown: Government regulates currency usage

Argentinian government has regulated the usage of currency. The government informed that has imposed currency usage in order to face the serious economic slowdown. The government also informed that it aims at imposing more steps to overcome the financial crisis.

Now the companies must get permission from Central Bank of Argentina to buy foreign currency or precious metals and to transfer money to foreign countries. And the Central bank has also instructed the exporters that they must liquidate the foreign exchange in the local markets with in five day.

Citizen of the country are now limited to freely buy upto $10,000 a month. To purchase more they must get the permission of the Central bank.


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