
Argentina's government barred people who buy dollars on the official market from using the financial dollar market for 90 days, under Central Bank communication A 8336. The aim is to halt arbitrage that had depleted Central Bank dollars.
Gross reserves rose by about US$1.9 billion after the measure took effect.
Capital controls aimed at protecting reserves can support the peso and Argentina's export dollar flows, which matter for soymeal and soyoil exporters. The effect on grain prices is indirect, so the impact is modest.
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