Tag: Argentina Central Bank

Argentina Central Bank
Thursday, September 11th 2014 - 04:30 UTC

Despite all the negative economic data, Argentina's stock market has almost doubled this year

Much of the money flowing into Argentina's Merval this year has come from wealthy Latin American investors

Despite all the negative news on government restrictions imposed on the Argentine economy and the shortage of hard currency, the country's Merval Index has skyrocketed almost 100% this year, the highest of any stock market in the world. It includes many of the largest companies in the country such as Telecom Argentina and Energy Petrobras, along with banks and a steel maker.

Tuesday, January 21st 2014 - 15:43 UTC

Argentina in France trying to work out a debt deal with the Paris Club

Minister Kicillof and his team of young economists are negotiating payment terms for the 9.5bn dollars debt

Desperately credit-short Argentina outlined on Monday its conditions for repaying some 9.5 billion dollars in debt to the Paris Club, a senior official at the group of creditor nations said, as the government of President Cristina Fernandez seeks to revive long-stalled talks. Argentina's international reserves have fallen to its lowest level since 2006.

Saturday, January 18th 2014 - 06:39 UTC

US dollar approaching the 12 Pesos mark in Argentina

No end in sight for the current run of the greenback

The US dollar in Argentina reached a new record on Friday at the end of nerve racking week which saw the greenback in the parallel market climb another 40 cents and close at 11.90 and 11.95 Pesos purchase and sale prices. During the week the US dollar soared 1.15 Pesos, and closed the week with a gap of 75.6% between the official dollar exchange and the 'blue' dollar.

Thursday, January 16th 2014 - 09:34 UTC

Argentine central bank reserves fall below the 30bn dollars threshold

The Central bank lost 30% of its reserves last year

Argentine central bank international reserves continued to erode and on Wednesday pierced through the 30bn floor threshold reaching 29.858bn dollars, the lowest level since November 2006. On Tuesday reserves stood at 30.019bn.

Saturday, October 26th 2013 - 15:54 UTC

Argentina appeals New York Judge Griesa's order regarding banks' disclosures

Judge Griesa wanted banks to turn over information on Argentina's assets

The Argentine government yesterday appealed an order by US Judge Thomas Griesa who asked some private banks to turn over information about Argentina’s assets abroad. The case had been started by hedge fund Elliott Management Corp’s NML Capital Ltd which is demanding in court full 100% payment of Argentine sovereign bonds face value.

Wednesday, October 23rd 2013 - 01:36 UTC

US dollar in Argentina reached 10 Pesos ahead of Sunday's mid-term election

Argentines despise “US imperialism” but love dollars to protect the value of their assets

The US dollar in Buenos Aires reached on Tuesday 10 Argentine Pesos (buying price) and 10.05 pesos (selling price) in the informal market, 15 cents higher compared to its last closing price, pushed by the tourist sector, and as the government crackdown on the so called city “exchange caves” eased up.

Wednesday, July 10th 2013 - 17:32 UTC

“Evita” 100-Peso bill are legal tender and must be accepted, warns Argentine central bank

The 100-Peso bill with the iconic image of Evita, equally revered and hated in Argentina

Argentina's central bank has warned businesses to stop rejecting commemorative bank notes bearing the image of Eva Peron to mark the 60th anniversary of the iconic former first lady's death. President Cristina Fernandez, whose fiery speaking style often prompts comparisons with that of “Evita” unveiled the 100-peso bills emblazoned with her profile a year ago.

Tuesday, June 25th 2013 - 05:57 UTC

Argentine central bank has lost 17% of reserves since the ‘dollar clamp’

Between October 2011 and June 2013, the central bank loss was 9.2bn dollars says R&E

Argentine central bank international reserves dropped 17% since the government of President Cristina Fernandez imposed the ‘dollar clamp`, first limiting operations in the US currency and later savings in greenbacks. While this happened in Argentina in other regional central banks, international reserves kept climbing, according to a report from consultants Economia&Regiones (E&R).

Wednesday, May 8th 2013 - 09:51 UTC

Argentina offers tax amnesty for undeclared dollars and assets in the country and overseas

According to the tax bureau agency head Echegaray, Argentines have 160bn dollars in undeclared assets

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.

Monday, April 29th 2013 - 20:17 UTC

Argentina transfers 400 million dollars to IMF to have greater access to emergency cash

Alfonso Prat-Gay said the Argentine government is only interested in grabbing the “1.6 billion dollars”

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.

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