The Argentine Central Bank keeps buying dollars in cash to travel
The Argentine Central Bank banned the use of cash for the purchase of foreign exchange for overseas travel, an operation that must be made by check, by bank account or transfers, local media reported Wednesday.
The provision, distributed between local exchange operators, is framed in restrictions being implemented by the Argentine Government for the acquisition of dollars, in place since late last year.
“From the days of the date, and policy changes on sales of notes and travelers checks to residents, may be recovered only by debit to the customer’s account, check the same or from a transfer from your account in another bank, “reads the letter received by operators, reported by the newspaper “La Nacion”.
The government seeks and “banking” exchange operations in a move that aroused criticism from currency exchange offices, which are usually handled in cash.
The Central Bank last week suspended the purchase of foreign exchange for personal savings, which particularly affects the operations with dollars, the currency used by the Argentine peso after.
The agency said it will purchase existing permits for tourism dollars, imports, purchasing real estate, rolling stock, aircraft, ships or scientific equipment.
Cristina Fernandez’s government established the first foreign exchange restrictions in late 2011 and has been tightening measures along this year, prompting the growth of the parallel market for the sale of the U.S. currency at a price well above the official rate.
The greenback sold at banks and authorized exchange to 4.55 pesos, while the rate on the informal market slashing 6 pesos.
The president pesified Wednesday the $ 3,000,000 that had a deposit account in a private entity and deposited in the National Bank as part of its policy of encouraging the use of the national currency.
Category: Forex
