# Bitter start to wallet-draining Christmas for middle class | Buenos Aires Times

> Government of President Alberto Fernandez announced a 30% levy on foreign-currency purchases to protect vulnerable sectors, drawing protests from middle-class Argentines. The measure is scheduled for debate in the lower house of Congress.

- Date: 2019-12-21 · published 2019-12-21T12:00:00.000Z
- Category: policy · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/55849-bitter-start-to-wallet-draining-christmas-for-middle-class-buenos-aires-times
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

Capital controls and dollar taxes weaken Argentina's economic stability and can push farmers to hold or sell crops differently depending on currency conditions. This adds uncertainty to Argentine export supply and to the peso's value against the dollar.

## Read by commodity

- USDARS: bullish ▲

## Sources

- batimes.com.ar: https://www.batimes.com.ar/news/economy/bitter-start-to-wallet-draining-christmas-for-middle-class.phtml

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