• Tweeter
  • republish

In Buenos Aires, a man brandishes a wad of Argentine money, the peso. REUTERS / Marcos Brindicci

Savers are worried about the exchange control measures instituted by the government of President Mauricio Macri to curb the capital flight that followed the defeat at the August 11 primaries against Peronist Alberto Fernández. These measures notably limit bank withdrawals from dollars, the Argentines' traditional savings currency.

With our correspondent in Buenos Aires, Jean-Louis Buchet

Concern yes, panic no. Thus we can summarize the reaction of Argentines to exchange control measures. Melisa, a 40-year-old physiotherapist, saw the blow come. " I'm waiting to see what will happen and how it will affect us. But I anticipated and removed everything I had in dollars ... "

Leonardo, a 43-year-old accountant, has not touched his savings account in dollars. " The exchange control measures do not seem to me bad. I think we should have taken it earlier, to avoid this bleeding and to give more predictability to the market. I kept my assets in the bank. Not because I have confidence in the system : I can steal my dollars from the bank at home or wherever! "

For many Argentineans, exchange control was necessary. And there was no exceptional affluence on Tuesday in banks to withdraw dollars. But many of them bought greenbacks, as Miguel, an informal trader, tells us.

" The 100 bill, we pay it at 59 and we sell it at 64. Those who buy are from Argentina, and more and more since there have been these measures. They buy to save and sell more in a while. Maybe 70 or more! The Argentineans and the dollar, it's a story

To listen: Today the economy - Argentina on the verge of default: whose fault?