Argentina Lifts Currency Controls, Peso Falls to 1,190 Against Dollar Amid $20B FMI Loan

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Updated Apr 14, 2025, 05:59 PM

Argentina has initiated the third phase of its economic program, announced by Economy Minister Luis Caputo, which includes currency liberalization and a floating exchange rate within a band of 1,000 to 1,400 pesos per dollar. This move marks the end of the 'cepo'—a set of stringent currency controls that have been in place since 2019. The lifting of these controls has led to significant market reactions, with the Argentine peso depreciating nearly 8% against the US dollar at the opening of markets in Buenos Aires. The official exchange rate settled at 1,190 pesos to the dollar, as reported by Banco Nacion, within the newly established floating band. The changes in currency policy are part of a broader economic strategy that includes the recapitalization of the Central Bank of Argentina (BCRA) and an increase in fiscal surplus. The government's decision to lift currency restrictions was influenced by a new $20 billion loan agreement with the International Monetary Fund (FMI), aimed at supporting the country's economic stabilization efforts.

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#Argentina #Luis Caputo #Argentine #US #Buenos Aires #Banco Nacion #Central Bank of Argentina #BCRA #International Monetary Fund #FMI

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Sources

telesurtv.net cronista.com buenosairesherald.com elnuevoherald.com

teleSUR TV

@teleSURtv

The Central Bank of #Argentina 🇦🇷 reported that starting this Monday, the survey of the so-called “Exchange Stocks” will take place as part of the so-called phase 3 of its economic program. https://t.co/bhfTeG5z3Q

El Cronista

@Cronistacom

This Monday at 10 o'clock, the official market opened for everyone who wants to buy dollars through the official exchange market and the banks started the offer if I can through home banking. Learn more. Exclusive for Members: https://t.co/Z03HIqcEWu https://t.co/k63DEJL0Pz

Buenos Aires Herald

@BAHeraldcom

💵 Dollar jumps in first session after Argentina’s IMF deal The official exchange rate at Banco Nación opened at AR$1,190 in the first session since the banded floating exchange rate was announced https://t.co/gG8uiWlvrc