Argentina to buy euros to restock reserves

Argentina's central bank will begin buying euros in the foreign exchange market to help bolster its foreign reserves, which were sharply reduced to pay back the country's debt with the IMF, a central bank official said on Sunday 8 January.

The bank habitually buys dollars in the market to pad its reserves, but as of Monday, will also buy euros, the source said, according to Reuters.

The government of President Nestor Kirchner slashed the bank's reserves last Tuesday to $18.5 billion from $28.05