Argentina removes restrictions on currency trading

Government of Argentina repealed restrictions on currency trading, effective from 2011, and release rate of the Argentine peso and delivered AFP Tass quoted by BTA.

The decision is expected to be officially announced later today.

At the end of 2011 in Argentina were introduced severe restrictions on the purchase of dollars from citizens.

The right to buy foreign currency Argentines had only going abroad. To travel, however, previously had to obtain permission from the tax authorities.

Companies were also restricted access to foreign currency.

Analysts predict that by tomorrow the exchange rate of the Argentine currency will be around 14-15 pesos per dollar. Currently the country operates "black" currency market, its rate differs by about 1.5 times the official.

The repeal of the ban on free movement of the dollar and the establishment of a single exchange rate were among the campaign promises of the new president Mauricio Macri, who took office on December 10.

Initially he planned to lift the restrictions on his first day in power, but the reform was postponed for several days because of insufficient reserves of the Argentine Central Bank.