I am far from one to defend currency purchase restrictions, but this hardly a big deal. This stops people taking advantage of the current spread between the official and the MEP/CCL. With access to online as accounts this is now much simpler to automate than it was 5 years ago.
Is there something I misunderstand in this example? Example: people loop thru buying dollars at $1350 and minutes later selling for MEP at $1440 to take immediate peso profits, to then circle back to buy more official dollars.
People can still run in circles to sell dollars at the Blue, but not using instant online accounts.
On Friday, the official dollar at Banco Nación closed at AR$1,350, while the wholesale dollar, which serves as the market benchmark, was priced at AR$1,326. The blue dollar traded at AR$1,440, 8.6% above the official dollar. The MEP ended the week at AR$1,433.53, while the CCL closed at AR$1,472.51, creating an exchange gap of between 6% and 9% with the official rate.
