Argentine central bank intervenes to support the US dollar: buys US$ 50m

Wednesday, January 23rd 2019 - 09:14 UTC

Full article 3 comments

Argentina’s central bank said it bought US$ 50 million at an average price of 37.597 Pesos per dollar in the foreign exchange market on Tuesday, part of its effort to maintain the currency in a trading band agreed with the International Monetary Fund. Read full article

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Patrick Edgar
... revealing what the structure of the International Monetary Fund ultimately is designed to do, through the collaboration of its members towards its design performance.
Jan 23rd, 2019 - 02:35 pm - Link - Report abuse 0
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Jonaz_BsAs
This is as reporting when a doctor puts a band-aid on a cancer patient. By April/May the peso should be back in free fall modus again.
Jan 24th, 2019 - 05:33 pm - Link - Report abuse 0
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Enrique Massot
Nothing surprising for a country that would have hit default a long time ago without help from an IMF and an US government clearly intent in keeping the Macri government on life support so that foreign debt service payments keep flowing out of the country.

As a result, since the IMF is funded by its state members, the move guarantees a constant, juicy stream of public money flowing to private coffers.

And the loop is closed.
Jan 26th, 2019 - 12:27 am - Link - Report abuse 0
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