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A reported blog on happenings around Latin America.

Argentina imposes foreign currency controls

The measures are intended to stem capital flight and limit money laundering.
Dollars 2011 10 03Enlarge
(Bay Ismoyo/AFP/Getty Images)

New controls on dollar purchases began today in Argentina.

Sales of foreign currency through ATMS, internet banking and phone banking are suspended until further notice, reports the Buenos Aires Herald.

Banks and exchange houses will have to clear all transactions with the tax agency.

The measures are intended to limit money laundering and to contain the deflationary pressures on the peso.

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