Tag: Argentina Central Bank

Argentina Central Bank
Monday, December 28th 2015 - 08:38 UTC

Argentine central bank building reserves: much depends on farmers and bankers

The rate has remained below what minister Prat-Gay hinted as equilibrium rate, 14.20 Pesos per dollar. Since the clamp was lifted, the Peso has been below14-pesos

This short week and the month of January will test if the Argentine administration of president Mauricio Macri can continue to build up Central Bank reserves following on the decision to end the dollar clamp, let the foreign exchange float, together with the prospect of loans and hoarded grain sales.

Saturday, November 14th 2015 - 11:52 UTC

Argentina needs confidence and positive expectations to attract investment and develop

Argentina can't continue with “a 7% GDP budget deficit, a manipulated exchange rate or a trade deficit, we simply have to be competitive” said Brito

Any country, any economy needs confidence and positive expectations, and that is what is lacking, and has been lacking in Argentina for many years, said Jorge Brito, head of the Association of Argentine banks, who nevertheless warned about the impacts of a 'rough' adjustment on the economy.

Friday, October 31st 2014 - 08:08 UTC

Chinese relief for Argentina: central banks activate currency-swap

The Central Bank of Argentina said the Yuan “is on a path to becoming one of the major global reserve currencies.”

The central banks of Argentina and China on Thursday activated a bilateral currency-swap agreement, which meant that the Argentine central bank received an initial tranche of Yuan equivalent to 814 million dollars.

Monday, October 20th 2014 - 07:08 UTC

Argentine Central bank chief downplays any chance of devaluation of the Peso

“There was a clear attempt by some sectors to trigger a new devaluation of the peso,” Vanoli stated in an interview, “but it failed”

Argentina's newly-appointed Central Bank (BCRA) governor Alejandro Vanoli claimed a “devaluation attempt” by 'concentrated powers' and rejected any official plans to downward the value of the country’s currency. He pledged to discourage speculation and to “put an end to abuses from financial institutions.”

Tuesday, October 7th 2014 - 05:46 UTC

“Blue” dollar in Argentina further plummets as market waits for new rules

With the latest changes in the Central bank, Economy minister Axel Kicillof has become the most powerful official of the Cristina Fernandez administration

The US 'blue' or informal dollar plunged 35 cents at the end of trading on Monday in Argentina to 14.95 Pesos after dropping another 20 cents last Friday, amid uncertainty about the new Central bank authorities policies and what is anticipated will be tighter controls on 'illegal' trading.

Friday, October 3rd 2014 - 07:17 UTC

Buenos Aires stock market plunges 7.2%, and the US dollar recedes slightly

Markets are still uneasy waiting for the new rules of the game to be managed by Vanoli

The day after Argentina's central bank governor Juan Carlos Fabrega stepped down, investors expressed their pessimism as Buenos Aires City stock market, Merval, which plunged 7.2% to 10,703.32 points on Thursday.

Friday, October 3rd 2014 - 06:20 UTC

The Argentine economy: “Thumbs down” writes The Economist

The resignation of the Central Bank’s governor Fabrega, adds to the gloom

Those baffled by the Argentine economy could do worse than listen to Puff Daddy. Ask what ails the country and the answer will echo the rapper’s ode to the 100-dollar bill, “It’s all about the Benjamins”.

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.


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