The countdown for economic decisions has begun

The announcement of debt reprofilement and FX controls last month were effective to moderate the fall in international reserves and contain the depreciation of the official exchange rate, which was only 3.7% since then. The CB added new FX controls on October and the Peso stands nowadays near 58.30. For individuals it limited the arbitrage between sovereign bonds that quote in USD and in ARS by requiring that the bonds should not be sold before 5 days. In addition, the entity fordbided to do the aforemoentioned operation with dollars purchased in the FX market in the last 5 days. More recently, the CB announced that individuals that purchased more than USD 10,000 per month cannot re-new their quota for the next month. The spread of the official FX with the blue chip swap is 17%.