Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
Display:
Argentina Tightens Limits on Use of Cash Transactions in Financial Markets - Bloomberg

Argentina limited the use of cash in the country's financial markets as President Cristina Fernandez de Kirchner ramps up oversight of currency transactions.

The government will restrict daily cash transactions to 1,000 pesos ($231) per person, down from 10,000 pesos, according to a statement today in the Official Gazette. The measure affects activity in the stock and bond markets, investment funds and in the futures markets. Operations above the limit will have to be done through Argentine bank accounts that are authorized by the central bank.

"They are forcing a higher level of formality in the economy, as cash transactions allow more irregularities," said Felipe Hernandez, an analyst at RBS Securities Inc. in Stamford, Connecticut. "This is in line with other measures to prevent money laundering, for which the government has been under a great deal of pressure."

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Feb 8th, 2012 at 02:22:43 PM EST
[ Parent ]

Others have rated this comment as follows:

Display:

Top Diaries

The 2nd Migrant Wave to Germany

by DoDo - Sep 1
43 comments

The UK Left and Brexit

by car05 - Aug 27
10 comments

Brutish, Nasty, Prolonged

by john_evans - Aug 18
26 comments

Periphery, migration & decline

by Metatone - Aug 14
24 comments

1930s in social media

by DoDo - Aug 11
91 comments

It's "Whose Economy, Stupid?"

by Helen - Aug 3
38 comments

Recent Diaries

Occasional Series