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        Following the announcement of capital controls by the Argentine Government


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Argentine President Mauricio Macri, an advocate of the free market, lifted capital controls as soon as he took office in 2015, but his announcement on Sunday marked a radical change in the government's position, following the defeat of the Conservative leader in the preliminary elections in August.
Argentina's peso, bond and stock prices plunged, forcing Markley to announce plans to delay debt repayments of about $100 billion, while imposing foreign exchange controls to limit dollar purchases.
The Peso closed 0.88% higher against the dollar in the official market, but fell 0.79% to 63.5 pesos in the black market. The divergence of the two quotations highlighted the lack of trust in the market for official quotations and the fact that the U.S. market was on holiday also helped to support the pesos exchange rate in the official market.
"The dollar is strong enough now," Hernan Lacunza, Argentina's finance minister, told a news conference. "The central goal of all these measures is to increase stability."
Guido Sandleris, president of Argentina's central bank, said Monday that Argentina's financial system was "robust" and that the central bank would abide by its own strict monetary policy, despite facing foreign exchange controls.
At a press conference, Sanders said the central bank was discussing with the International Monetary Fund (IMF) a financing arrangement of $57 billion in September to "redefine" the target, although no adjustments had been made.
The Argentine Peso has fallen by more than a third so far this year and more than 50% last year. Since Wednesday, Argentina's central bank has spent nearly $1 billion in reserves, but it has not been able to stop the peso from falling.


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