Tag: Argentine Central Bank
Argentine Central BankCristina Fernandez administration limits overseas dollar extractions to a minimum
Continuing with the so called ‘dollar clamp’ Argentine institutions issuing credit cards will further limit the extraction of dollars from automatic cashiers: travellers to neighbouring countries will only be allowed 100 dollars every three months and those visiting non neighbouring countries, 800 dollars per month.
Argentines keep travelling overseas despite the ‘dollar clamp’ and the ‘Coca Cola formula’
Despite the ‘dollar clamp’ and other obstacles to purchase the US currency in Argentina, the number of Argentines travelling abroad increased by 8% last March in comparison to the same period the year before although they spent 6.2% less than in 2012, it was reported by the National Statistics Bureau (INDEC).
Argentina again this year will use reserves to comply with debt commitments
Argentina will use 2.3 billion dollars of central bank reserves this year to meet payments to international financing organizations and on its official bilateral debt, according to the Official Gazette.
Argentine central bank says it has enough reserves to contain the run on the US dollar
With insistent rumours of imminent measures to try and control the value of the US dollar in Argentina, Central Bank Governor Mercedes Marcó del Pont, stressed that the country has more than 40 billion dollars in reserves “to manage the foreign exchange market avoiding sharp changes”.
Argentina February Congressional inflation index more that double the official rate
In contrast with the 0.5% inflation reported by the Argentine government’s controversial stats office, Indec, the index based on private estimates and released by opposition lawmakers climbed to 1.23% with an accumulated 25.27% in the last twelve months.
Another Argentine province confirms ‘pesification’ of dollar-denominated bonds
Another Argentine province, Formosa announced that it would be repaying in Pesos its dollar-denominated bonds (FORM3) issued under local law, at an exchange rate of 4.81 Pesos per dollar.
Argentine central bank confirms no restrictions for governments to purchase dollars
The Argentine central bank confirmed on Wednesday that there is no money exchange restrictions for the federal government or provinces to purchase US dollars to honour public debt issued offshore.
Foreign exchange clamp forces Argentine province to pay dollar bonds in pesos
The foreign exchange clamp in Argentina is reaching the provinces, one of which at least was unable to honor maturing bonds in dollars and made the payment in Argentine Pesos.
Argentina will adopt tough measures to guard nine years of economic achievements
Argentina has “stronger financial support than other countries” and will adopt tough policies to guard the nine years of economic achievements, said Economy Deputy Finance Minister Axel Kicillof addressing the Lower House Budget and Finance Committee to discuss the main guidelines for next year’s budget.
Argentina issues 2 Pesos coin to commemorate 30th anniversary of the Malvinas landing
The Argentine Central bank has issued a new 100 Pesos bill to honour the figure of Eva Duarte de Perón, and a 2 Pesos coin commemorating the thirtieth anniversary of the landing of Argentine troops in the Malvinas Islands.
