"As Macri's government runs out of options, it will most likely have to resort to very unpalatable measures that most adult Argentines hoped they would never experience again", said Emilio Ocampo, an independent economist and consultant.
According to the decree, the BCRA will establish under what circumstances "purchasing foreign currency and precious coins, and transferring them overseas, will require prior authorization".
Last month, markets were rattled when pro-business Argentine President Mauricio Macri suffered a huge loss in party primary elections, and his leftist opponent Alberto Fernandez emerged as the favorite for next month's presidential elections.
A spokesperson said "the executive branch needed to adopt a series of extraordinary measures aimed at ensuring the normal functioning of the economy".
Argentina's government has authorised its central bank to prop up the struggling peso by imposing currency controls on its companies.
The central bank said in a statement that the measure did not limit people from withdrawing dollars from their accounts.
Argentina's fragile economy has been hampered by the neoliberal austerity programme of Mr Macri.
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She felt well prepared and less anxious , given the latest forecasts, but still was uneasy given the storm's unpredictability. National Hurricane Center in Miami says the eye of Hurricane Dorian is "wobbling" over the Bahamas' northernmost island.
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Argentina has been struggling with a financial crisis which was exacerbated by the president's defeat in a recent primary poll.
"It is an uncomfortable measure for us that Argentina has already had", Lacunza said in an interview with the América TV channel on Sunday night.
Its economy has fallen into a deep recession with inflation running at 22 per cent in the first half of the year.
Argentina has been in recession since a year ago, and is battling rising unemployment and one of the world's highest inflation rates, running at more than 55 percent.
Last week, Lacunza said the government would negotiate with holders of its sovereign bonds and the International Monetary Fund to extend the maturities of its debt obligations as a way of ensuring Argentina's ability to pay.
The decision led credit-rating agency Standard & Poor's to briefly lower the country's credit grade to "selective default", meaning it can pay some of its debts but can't meet all of its debt obligations.