Argentina Reserves Top US$50 Billion as the Central Bank Keeps Buying Dollars
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4 Articles
Argentina Reserves Top US$50 Billion as the Central Bank Keeps Buying Dollars
Argentina's central bank bought dollars for 16 straight days, pushing gross reserves above US$50 billion for the first time in seven years. The milestone reflects active currency management and a new high for the current administration. The post Argentina Reserves Top US$50 Billion as the Central Bank Keeps Buying Dollars appeared first on The Rio Times.
Since January, the entity under the leadership of Santiago Bausili totaled US$13.770 million.
The Central Bank (BCRA) continues to add dollars to strengthen and increase international reserves and this Thursday reached a new peak in the presidency of Javier Milei. The monetary authority scored 16 consecutive days with buyer balance in the Free Exchange Market (MLC). That number was restarted after not registering any intervention towards the end of July, breaking a 135-day streak with purchases. I COULD INTEREST YOU: Economic activity gr…
The Central acquired $s89 million and raised the purchase balance of the month to u$s443 million. Thus, the gross reserves advanced u$s340 million to u$s50,342 million, while the wholesale dollar again closed below the $1,500 and the rates in pesos resumed the rise.
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