[Buenos Aires 2nd Reuters]-The Argentine central bank governor, Sandrelis, said on the 2nd that the government approved the reintroduction of foreign currency regulations, but the central bank will maintain tight monetary policy.
The Argentine government approved the reintroduction of foreign currency transaction regulations on the 1st. According to the official gazette notice, companies are restricted from purchasing dollars and will need the approval of the central bank to purchase foreign currency in the foreign exchange market and transfer money abroad. [nL3N25S1HF]
At the press conference, Sandrelis acknowledged that Argentina's financial system is “solid”. It also revealed that the central bank is in discussions with the International Monetary Fund (IMF) to “redefine” the target.