Dollar controls getting stricter

[sesamosinsal]

Clarin is reporting that casas de cambio are now requesting documentation proving the origin of funds in order to buy dollars. Furthermore, several casas de cambio (Metrópolis, Casa París, and Maguitur were mentioned in the article) are only allowing clients to purchase up to $500 USD.

This, of course, poses a significant problem to those who have to pay rent using dollars. For those coming to Argentina who will not be paying their rental contract up front in dollars, it would be wise to make sure that the landlord will have no problems accepting payment in the ARS equivalent.

 

[Gringoboy]

Afip, Banco Central and....gasp, the Gendarmerie are all over the casas de cambio like a rash.
They are apparently trying to stem the flow of USD leaving the country.
The other factor are the mules from the villas involved in money laundering and certain sectors of the Asian community using the casas en masse for their own reasons..............

 

[PhilipDT]

Hopefully this drives up the prices at cuevas on florida

 

[dennisr]

http://impuestos.iprofesional.com/n...isitos-a-tener-en-cuenta-para-comprar-divisas

http://translate.google.com/transla...isitos-a-tener-en-cuenta-para-comprar-divisas

 

[citygirl]

Yes, it's definitely becoming more difficult as the gov't seeks to crack down on money leaving and also the rash of people getting rid of their pesos due to fears about devaluation.

And yes, black market rates if you want to sell dollars are going up quite a lot.

 

[TheBlackHand]

It doesn't sound like a problem as long as you can prove the origin of funds.

Clarin is reporting that casas de cambio are now requesting documentation proving the origin of funds in order to buy dollars.

 

[kurtdillard]

I wonder if these new restrictions are being implemented now in anticipation of what BAFinance and others discussed here: http://baexpats.org/expat-life/18172-sit-tight-your-dollar-about-go-alot-further.html. Seems like a logical step to take before they stop manipulating the Peso's value, but I'm no expert on international finance.

 

[Sleuth]

Now they just passed a law that all oil, gas and mining companies must keep their export revenues in the local market in an effort to supply dollars to the market:

http://www.reuters.com/article/2011/10/26/argentina-economy-export-idUSN1E79P0HX20111026

 

[kurtdillard]

Thanks Sleuth, that's a fascinating move, and I think it supports BAFinance's assertion that the Peso is going to loose value much more quickly after the election.

 

[JWB]

Thanks Sleuth, that's a fascinating move, and I think it supports BAFinance's assertion that the Peso is going to loose value much more quickly after the election.

Wow! Didn't see that coming.