Argentina's peso under pressure
It was the first day the peso was allowed to float freely, after the failure of the government's dual-exchange rate system of fixed international rates and floating domestic rates.
Shortly after the markets opened it took 2.30 pesos to buy one dollar - a drop of 9%. For the past 11 years, until the beginning of January, the exchange rate to the dollar had been fixed one-to
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Reserves
Saudi Arabia gives Turkish central bank $5 billion
Turkish government moves to protect workers from firing in aftermath of earthquake
Colombia central bank transfers $1.6 billion to government
Country escapes trend of central bank losses
US court rules plaintiffs cannot seize Afghan reserves
Judge supports earlier ruling that frozen assets belong to Afghan government, not the Taliban
IMF allows five regional banks to hold SDRs
Development banks in Europe and the Americas are now “prescribed holders”
EU countries must report Bank of Russia assets, Commission says
Move opens way for seizing Russian assets, but Swiss government says confiscation would be illegal
Cuba replaces central bank governor
Head of foreign exchange body takes over from Wilson González
Sanctions fear drives surge in central bank gold purchases
China, Turkey and India are largest declared buyers, while Russia probably bought big quantities
Argentine minister announces debt buyback
Government will repurchase up to $1 billion in foreign currency bonds “to lower risk premium”