The Argentine monetary authority has imposed a $50 cap on international wagering transactions – iGB
The Argentine Central Bank has put into place new limitations on various types of overseas credit card transactions, including a $50 (38.72 GBP/44.81 EUR) ceiling on gambling and betting services.
These modifications were revealed on October 31 and took effect on November 1.
Furthermore, there is a $50 limit on transfers to payment platforms such as PayPal, transfers to investment accounts situated outside of Argentina, and acquisitions of foreign currency and digital currencies.
This action is intended to curb the outflow of the Central Bank’s foreign exchange reserves and prevent further devaluation of the Argentine peso, as worries mount about the possibility of a depletion of reserves following the country’s electoral outcomes.
On October 27, Peronist Alberto Fernandez triumphed over incumbent Mauricio Macri in the nation’s presidential election.
The peso plunged after primary election results predicted Fernandez would secure the presidency, as concerns escalated that Fernandez would terminate Macri’s more market-oriented policies.
Purchased $0.0.
At the beginning of 2019, the Argentine currency experienced a steep drop, reaching a low point of just $0.017. This significant decrease had a substantial impact on businesses, particularly those with a strong dependence on the Argentine economy. Codere, for instance, witnessed Argentina’s position as its leading market decline to third place. This situation could potentially result in Codere’s credit rating being lowered to “B-” by Standard & Poor’s.
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