Economic history of Argentina rate never went above 10%, and the country largely recovered by 1935. However, the Depression permanently halted its economic expansion. Actually, much like other developing countries, the economy was already in a downturn beginning in 1927, a result of declining prices. Argentina abandoned the gold standard in December 1929, earlier than most countries. For much of the previous period, the country had operated a currency board, in which a body known as the caja de conversión was charged with maintaining the peso's value in gold. The devaluation of the peso increased the competitiveness of its exports and protected domestic production.
Argentine currency controls (2011–15) sources of financing, such as international banks and grain exporters. It was estimated that the grain exporters had billions of dollars in stockpiled grain harvests, waiting for the changes to sell them. Argentine currency controls (2011–15) 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" (). The controls were lifted in December 2015, at the beginning of the presidency of Mauricio Macri. The first restrictions were imposed on