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  3. Finance (general)

cepo monetario

English translation: currency restriction

14:49 Jan 11, 2024
Spanish to English translations [PRO]
Bus/Financial - Finance (general)
Spanish term or phrase: cepo monetario
From an Argentine Offer to buy shares:
Los COMPRADORES reconocen tener disponibilidad de billetes de la divisa dólar estadounidense, asumiendo de manera exclusiva el álea frente a modificaciones en las regulaciones cambiarias, agravamiento del cepo monetario y/o las variaciones de cotización que pudiera observar la divisa dólar estadounidense y/o su disponibilidad física, de modo tal de efectivizar el pago del PRECIO, únicamente en billetes dólares estadounidenses.
spanruss
United States
Local time: 05:27
English translation:currency restriction
Explanation:
Massa says he'd eliminate currency restrictions in late ...
Buenos Aires Herald
https://buenosairesherald.com › economics › massa-sa...
Nov 6, 2023 — The currency restrictions are known in Spanish as the cepo. “We will eliminate the cepo when 2024 ends and we have enough dollar reserves ...
Selected response from:

patinba
Argentina
Local time: 07:27
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +3currency restriction
patinba
5Restriction on hard/foreign currency transactions
Francois Boye


  

Answers


18 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
currency restriction


Explanation:
Massa says he'd eliminate currency restrictions in late ...
Buenos Aires Herald
https://buenosairesherald.com › economics › massa-sa...
Nov 6, 2023 — The currency restrictions are known in Spanish as the cepo. “We will eliminate the cepo when 2024 ends and we have enough dollar reserves ...


patinba
Argentina
Local time: 07:27
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1430
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  philgoddard: Presumably meaning 'wheel clamp'. This is about dollarization. http://www.wordreference.com/es/en/translation.asp?spen=cepo
24 mins
  -> Yep! Thanks!
neutral  Francois Boye: The restriction is not on any currency. It is only relevant to hard/ foreign currencies.// You know that the Argentinian authorities are cracking down on trading on foreign exchange, which devalues the local currency.
1 day 5 hrs
  -> An unnecessary and incorrect clarification. It was not possible to purchase currencies of any kind.
agree  Joaquín Carrillo Bascary: 100% agree, it's currency restriction
1 day 23 hrs
  -> Thank you!
agree  Luis M. Sosa: Agree. ‘exchange restrictions’ also widely used by IMF and S & P, a rating agency, while Fitch (another rater) uses ‘foreign exchange restrictions’.
2 days 2 hrs
  -> Thank you!
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1 day 2 hrs   confidence: Answerer confidence 5/5
Restriction on hard/foreign currency transactions


Explanation:
This policy is usually enforced by the countries ridden by a very weak currency.

Hard currencies are usually USD, euro, and involved he English Pound. Those currencies are involved in most foreign exchange transactions.

Argentina has restricted foreign exchange transactions more often than not, because its balance of payments has been imbalanced more often than not, which means that the BCRA (the central bank) cannot meet all the demand for foreign currencies more often than not.





--------------------------------------------------
Note added at 1 day 11 hrs (2024-01-13 02:42:18 GMT)
--------------------------------------------------

Argentina installed foreign exchange controls in 2011, at the beginning of the second presidency of Cristina Fernández de Kirchner. Those controls limited the ability to buy or sell any foreign currency. The restriction was informally known in Argentina as Cepo cambiario (Spanish for 'exchange clamp'). The controls were lifted in 2015, at the beginning of the presidency of Mauricio Macri.

Francois Boye
United States
Local time: 06:27
Specializes in field
Native speaker of: Native in FrenchFrench
PRO pts in category: 335

Peer comments on this answer (and responses from the answerer)
neutral  philgoddard: It doesn't say 'hard', and 'foreign' is redundant.
6 hrs
  -> You don't know what you are talking about. See the text submitted by Asker./in Argentina, the national currency is worthless. Nobody traces the local currency, but there is high demand for only foreign currencies, the USD being the most important.
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