RE:RE:RE:Currency restrictionsStratocheif wrote: Argentina is in dire straits. The peso is continuing to collapse. In an effort to prop it up they have implemented an additional 35% tax on converting pesos to dollars in order to stop the selling of pesos which drops their value further. So if you exchange 100 pesos for a dollar they take 35% so you only get 65 cents. Miners exporting their product and selling it in dollars will have to fork over 35 cents of every dollar they receive
Scince Argentina wants more dollars coming into the country to prop up their dwindling US dollar reserves it makes no sense that they would discourage gold sales in dollars if it means more dollars entering the country in return for those same gold sales.
I noticed that Argentina announced last Thursday that mining sales exports were going to be reduced from 12% to 8%
..........
Economy Minister Martn Guzmn announced Thursday that the government will reduce export taxes on several key commodities over the next three months, in an effort to boost dollar inflows to the country as Central Bank reserves continue to decline.
........
With regard to mining, export taxes will be reduced from 12 percent to eight percent. ........
https://batimes.com.ar/news/economy/government-cuts-reduces-key-export-taxes-for-agriculture-mining.phtml