Tag: Argentina Central Bank
Argentina Central BankArgentina offers tax amnesty for undeclared dollars and assets in the country and overseas
The administration of President Cristina Fernandez announced the drafting of a bill intended to establish a recovery plan for undeclared assets within the country and abroad in order to strengthen the level of foreign reserves of the Central Bank. The government estimates Argentines hold 160bn dollars outside the financial system in the country and overseas.
Argentina transfers 400 million dollars to IMF to have greater access to emergency cash
Argentina which the IMF censured for underreporting inflation less than three months ago after three warnings over the past two years, last week authorized the deposit of 400 million dollars with the Washington-based lender to increase the nation’s access to emergency cash.
Argentines fear major devaluation of the Peso and dollar sets new record at 9.34
The US dollar in the ‘blue’ or parallel market kept climbing in Argentina ending a week of consecutive records reaching on Friday 9.30 and 9.34 Pesos (buying and selling price) 14 cents more than on Thursday. Since the beginning of the year the US dollar has climbed 36.97% while the official rate stands at 5.18 Pesos, with an increase of only 5.3%.
Argentines in ‘expectations panic’ paid a record 9.20 Pesos for the US dollar
The US dollar in Argentina’s parallel or ‘blue’ market continued to soar on Thursday reaching a new record high of 9.16 and 9.20 Pesos buying and selling price which over twenty cents more than on Wednesday.
US dollar soars in Argentina and is just a few cents away of 9 Pesos in the parallel market
The US dollar in Argentina’s ‘blue’ or parallel market skyrocketed on Wednesday to 8.91 and 8.94 Pesos, beating the previous record of 8.75 Pesos from March 20, previous to Holy Week. The official rate meantime remained relatively stable and closed trading at 5.13 and 5.18 Pesos, which means the gap between the two markets stands at 71%.
Urgent meeting of Argentine economic team as US dollar jumps 10% to 8.75 Pesos
President Cristina Fernandez called an urgent meeting on Wednesday evening of her economic team following a day of hectic trading in the currency exchange market which had the US dollar climb to 8.75 Pesos in the parallel market, expanding the gap with the official rate to almost 70%.
Argentina: dollar in black market climbs to milestone 8 Pesos and 57% gap with the official rate
The black market dollar exchange rate in Argentina pierced the milestone 8 Pesos mark while the official rate climbed to 5.09 Pesos with the gap between the two markets reaching 57%. The other ‘cash’ option: buying Argentine shares in Buenos Aires and reselling them in New York climbed 10 cents to 8.46 Pesos.
Argentine central bank reserves at their lowest level since December 2007
Argentina’s central bank reported that at the end of January it had reserves totalling 42.65 billion dollars which is the lowest level since President Cristina Fernandez took office in December 2007. At the time the central bank international reserves totalled 46.2 billion dollars. Only in April 2007 were reserves at a lower level, 38.6bn dollars.
Argentine economy forecast to expand 4.6% in 2013, but dollar clamp remains
Argentina's economy is seen growing 4.6% next year, improving after drought and a slowdown in top trading partner Brazil took a toll in 2012, the central bank president said in an interview published on Sunday. She also advanced that the so called ‘dollar clamp’ or strict restrictions on the purchase of foreign currency remain.
Argentina pays GDP-linked bonds; Central bank reserves fall to lowest since 2007
Argentina made payments of over 3.5 billion dollars on Friday in GDP-linked bonds which refer to the 2005 and 2010 rescheduling agreed with creditors who originally held 2001/02 defaulted sovereign bonds. At the same bank the Central bank revealed that international reserves have fallen to its lowest since 2007.
