The decision affects Argentine Deposit Certificates (CEDEARs, by its Spanish acronym), financial instruments issued in Argentina that allow investments in foreign assets. The implicit foreign exchange rate in these operations is called the blue-chip swap rate. Although the restrictions are temporary, the CNV did not clarify when they would be lifted. The blue-chip swap rate increased by 16.5% in the same period. However, after the new restriction was enforced on Tuesday morning, the blue-chip dollar rate fell by 0.5% and ended the day at AR$962.1.

Source: Bueno Aires Herald October 17, 2023 22:26 UTC