NEW YORK (S&P Global Ratings) Sept. 16, 2020--The Central Bank of Argentina (BCRA) on Sept. 15 further tightened regulations on accessing foreign exchange (FX). The action occurred amid pressure in the official and parallel exchange rate markets, and on the level of international reserves despite the government's restructuring of over US$100 billion in debt with commercial creditors at the beginning of September. BCRA has reportedly sold over US$3 billion from July through mid-September, with almost US$1 billion to date this month. The spread between the official (MULC) rate of about 75 pesos per dollar and various parallel rates has widened, with the weakest parallel rate at about 145 pesos per dollar. Our transfer and convertibility (T&C) assessments reflect our view
