Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Air Algerie investigation continues

Read more

AFRICA NEWS

Dozens of youths trampled to death on Conakry beach

Read more

AFRICA NEWS

Ebola death toll tops 700

Read more

MEDIAWATCH

UNRWA official breaks down over Gaza deaths

Read more

DEBATE

Argentina Defaults - Kirchner Cries Foul Over 'Vulture Funds' (part 2)

Read more

DEBATE

Argentina Defaults - Kirchner Cries Foul Over 'Vulture Funds'

Read more

MEDIAWATCH

Renault's women drivers ad deemed sexist

Read more

FOCUS

Constitution prohibits Aung San Suu Kyi to run for president

Read more

THE BUSINESS INTERVIEW

War and Markets, with Steen Jakobsen, Chief Economist at Saxo Bank

Read more

  • Kerry, Ban announce 72-hour humanitarian ceasefire in Gaza

    Read more

  • Interactive: France’s new plan to counter jihadism in Africa

    Read more

  • French Jews speak of growing fear in Paris amid Gaza conflict

    Read more

  • Argentinian markets plummet following default

    Read more

  • Video: Inside Hamas ‘terror’ tunnels in Gaza

    Read more

  • France remembers murdered socialist hero Jean Jaurès

    Read more

  • Sierra Leone declares state of emergency over spread of Ebola

    Read more

  • Investigators reach MH17 site amid 24-hour ceasefire

    Read more

  • Air France ground workers to strike on August 2

    Read more

  • Scores feared dead in India landslide

    Read more

  • Russia ordered to pay further €1.9 billion to Yukos shareholders

    Read more

  • Iraq's Christians: Nowhere to Run?

    Read more

  • Russia defiant as US, EU unveil 'phase three' sanctions

    Read more

  • US House votes to sue Obama for over-reaching his powers

    Read more

Americas

Argentina loosens currency market, limits dollar purchases

© AFP

Text by FRANCE 24

Latest update : 2014-01-27

Argentina eased unpopular restrictions on dollar purchases for the first time in more than two years on Monday, but placed a $2,000 monthly limit on the amount of hard currency its citizens will be allowed to buy.

Jorge Capitanich (pictured main), the head of President Cristina Fernandez's cabinet, told a press conference that permission to purchase dollars will be restricted to “working professionals, workers and small business owners.”

Large businesses and investors will be barred from hard currency purchases, and all transactions will have to be approved by the national tax agency, Capitanich added.

Buenos Aires announced last week that it would drop the measure put in place in 2011 restricting Argentinians' access to foreign currency to prevent capital flight.

The momentous decision to ease access to dollars was made after the Argentine peso suffered its worst single-day fall in more than a decade.

Since the beginning of the year, the peso has lost about a fifth of its value, and the measure was seen as a bid to halt that precipitous slide by boosting confidence in the economy.

The recent economic upheaval comes 12 years after Buenos Aires roiled financial markets by defaulting on nearly $100 billion in bonds, unleashing a tidal wave of capital flight and runaway inflation.

Argentines remain traumatized by the 2001 collapse, which wiped out the savings of millions of people from the middle class.

(FRANCE 24 with AFP)

Date created : 2014-01-27

  • ARGENTINA

    Argentina rejects court order to pay 'vulture fund'

    Read more

  • ARGENTINA

    Argentina's ex-president jailed for arms smuggling

    Read more

  • ARGENTINA

    Argentina's 'Dirty War' junta leader dead at 87

    Read more

COMMENT(S)