“Most of the entities authorized to operate in foreign exchange already use SIOPEL for their operations,” the Central Bank wrote in a communiqué. “Now, exceptions for some exchange houses and agencies have been eliminated.”After last week’s 22% devaluation, the official dollar exchange rate was fixed at AR$350. Differences between the exchange rates (and even inside different iterations of the same exchange rate) allow for different kinds of arbitrage. This month, the government increased restrictions on U.S. dollar bonds and raided informal exchange houses known as cuevas (caves). On Thursday, Customs and Airport Security Police raided 26 businesses in Buenos Aires City, Buenos Aires Province, and Misiones, including exchange houses.

Source: Bueno Aires Herald August 26, 2023 10:35 UTC