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Argentine central bank lifts US dollar purchase minimums

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Argentine central bank lifts US dollar purchase minimums

Banco Central dela República Argentina adopted measures to elevate the monthly minimumof U.S. dollar currency purchases to $5 million from $2 million, the bank said ina May 5 statement.

The monetary measure is part of an overall by Argentina to remove its remainingcurrency controls in the coming months.

President Mauricio Macri lifted many of the country's capitalrestrictions as one of his first movesupon taking office in December 2015 in an effort to push Argentina to a more openmarket.