(BLOOMBERG) — Argentina’s government imposed capital controls to halt a slump in foreign currency reserves and the peso that has pushed the country to the brink of default.
The central bank set a limit of 5 days for exporters to repatriate foreign currency, while institutions will need authorization of the bank to buy dollars in the foreign exchange market, except in the case of foreign trade, according to a statement from the bank. Individual Argentines will be limited to dollar purchases of no more than $10,000 a month.
