The Central Bank of Argentina (BCRA) announced it will require “prior approval” before granting any requests for foreign currency on December 11. The policy – interpreted essentially as a halt to all hard currency sales – is a temporary measure as the new president replaces the central bank’s leadership.

In a statement, the BCRA explained the regulation was “put in place to give the executive branch time to fulfil the administrative processes for confirming the new leadership [of the central bank