I can't put my finger on the article but just read it in the last couple days. Something to the effect they are allowing currency swaps again but there is a limit of $2000. Not sure if that was per week or month or total ???? The other thing was I thought it said these swaps had to be held in a bank for a extended period of time like a year ??? Think the article was on Zerohedge but not sure Edit found it: http://www.zerohedge.com/news/2014-01-27/argentine-prices-soar-following-peso-devaluation-which-only-benefits-20-population "Luckily for the central bank, as Bloomberg calculates, at most 20% of the population will actually be able to take advantage of the "relaxed" capital controls, because only Argentines who earn at least 7,200 pesos ($901) per month will be allowed to buy dollars, Cabinet Chief Jorge Capitanich told reporters today. And since only 20% of Argentines earned 7,000 pesos or more as of 3Q 2013, according to the National Statistics and Census Institute, it means that 80% of the population will get all the "benefits" of inflation with zero benefits from dollar purchase price protection. And it's not like even the rich will be able to truly benefit: he limit for FX purchases will be $2,000/month and will be taxed at 20% unless deposited with bank for at least a year." |