Argentina's Central Bank did not buy reserves and the Treasury reportedly sold dollars to contain the exchange rate
Argentina's Central Bank abstained from buying reserves in a session with a heavily demanded dollar following the election in Brazil. The wholesale rate closed at $1,532 bid and $1,541 ask, up $11.50 (0.75%) from Friday. According to traders, the rise was not larger because of Treasury sales to contain it; the market estimates the government used about US$100 million. With the abstention, the BCRA ended a streak of 20 spot interventions with a positive balance.
In 35 seconds
- The wholesale dollar closed at $1,532 bid and $1,541 ask, up $11.50 (0.75%) from Friday.
- The BCRA did not buy reserves and ended a streak of 20 spot interventions with a positive balance.
- Traders attribute the exchange rate's stability to Treasury sales, estimated at about US$100 million.
Read the full story at La Nación
IASummary generated by artificial intelligence from a story by La Nación. It may contain errors: the original source prevails.
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