#Argentina's President, Javier #Milei, has just announced that he will put an end to the foreign exchange #ceiling, usually named #cepo. This measure, which imposed strong restrictions on access to the dollar, became a symbol of State intervention in the forex market. Since its imposition in October 2011, the "cepo" has caused distortions that affected the daily lives of millions.
The “cepo” officially began when the government of Cristina Fernández de Kirchner decided to establish stricter controls on the purchase of dollars, in order to curb capital flight and artificially sustain the value of the peso. A system was born, in which each person had to justify his purchasing power to the AFIP in order to access dollars. Far from solving the problem, it multiplied it: parallel markets such as the blue dollar were born and exchange informality became widespread.