# Central Bank tightens currency controls as peso weakens | Buenos Aires Times

> Argentina's central bank chief announced a 35% tax on retail dollar purchases on top of an existing 30% solidarity tax, including on card purchases. Companies with more than $1 million a month in dollar debt maturities must present restructuring plans. The bank also lengthened the minimum holding period on dollar assets received from abroad.

- Date: 2020-09-16 · published 2020-09-16T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/51405-central-bank-tightens-currency-controls-as-peso-weakens-buenos-aires-times
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

The measures aim to conserve reserves and curb dollar demand, which can weaken the peso and complicate Argentine exporters' finances. Persistent currency stress can affect the peso-denominated cost and export competitiveness of Argentine soy and corn.

## Sources

- batimes.com.ar: https://batimes.com.ar/news/economy/central-bank-tightens-currency-controls-as-peso-weakens.phtml

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.