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Economy Minister To Announce New FX Measures

ARGENTINA
  • Economy Minister Sergio Massa said late on Tuesday in television statements that he will announce measures in response to the strong pressure on the peso in the black market, known as the ‘dollar blue’, according to Infobae web report.
    • Headlines throughout Tuesday’s focused on the parallel exchange rate, that gauges the market value of the peso, topping 1,000 per USD, which represents a 40% drop from the primary just two months ago. As a reminder, Argentina will hold the first round of the presidential election on October 22.
  • Argentina’s regulator established a daily limit of 100 million pesos ($105,000 at parallel FX rate) for transactions by foreign customers, according to a new rule published on Wednesday in the official gazette. Foreign clients and brokers must notify 5 working days prior about their trades to the local brokers. (BBG)
  • Separately, today marks the second day of Argentina Investor Conference, organized by BCP Securities.

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