Argentina to reform exchange rate regime and buy more FX
From January, currency band will widen by an amount equivalent to monthly inflation rate
The Central Bank of Argentina (BCRA) is to overhaul its exchange rate regime and purchase more reserves, in a push to strengthen its coffers and guard against future volatility.
The BCRA on December 15 announced that from January, the peso’s exchange rate ceiling would increase and the floor decrease by a number equivalent to the previous month’s inflation rate. Month-on-month inflation in Argentina stood at 2.5% in November and 2.3% in October.
This will mark the biggest change to Argentina’s
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