The Central Bank of Argentina has put a cap on imported luxury goods on January 6 in a bid to preserve dollars in the country.

The rules affect purchases of products such as high-end cars and motorcycles, private jets worth over $1 million, recreational boats, beverages including champagne, whisky, liqueurs and other spirits priced above $50 a litre.

Importers will have to secure financing abroad, or wait a year to obtain financing for these purchases. The measure is applicable to all goods