Tag: Argentina Central Bank

• Friday, May 26th 2023 - 09:07 UTC

  Argentina imposes more impediments to foreign trade; Central bank desperately short of US dollars

  

  Given the financial problems and shortage of foreign currency, on Wednesday, May 24, the leading shipping company MSC, followed by seven others, announced that, as from June, ‘freight collect’ will be charged for exports from Argentina, meaning that these charges will be billed to the party receiving a shipment, often called the consignee.

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• Friday, March 17th 2023 - 08:48 UTC

  BCRA adjusts benchmark interest rate: 78% annually

  

  Argentina's Central Bank (BCRA) Thursday decided to raise the benchmark interest rate by 300 basis points to 78% annually, it was announced in Buenos Aires the day after the INDEC said the Consumer Price Index for the month of February ad grew 6.6% for a year-on-year inflation of 102.5 %, the highest in the last 32 years.

• Monday, July 4th 2022 - 20:43 UTC

  No more foreign players for Argentine football clubs due to US dollar crisis

  

  Argentina's current economic crisis is taking its toll on football. Transactions involving foreign players who were about to be hired by local clubs have been put on hold after local clubs have been rendered unable to have access to the amount of US dollars needed for the deal to go through.

• Friday, February 18th 2022 - 10:25 UTC

  Argentina’s Central Bank raises interest rates amid growing inflation

  

  Argentina’s Central Bank (BCRA) Thursday increased interest rates to 42.5%, it was announced. The measure is consistent with recent talks between the Government of President Alberto Fernández and the International Monetary Fund (IMF).

• Wednesday, December 15th 2021 - 20:43 UTC

  Argentina might raise interest rates to keep US dollar at bay

  

  Argentina's Central Bank (BCRA) is considering raising the interest rate, in accordance with a suggestion from the International Monetary Fund (IMF), it was reported Wednesday in Buenos Aires.

• Friday, December 3rd 2021 - 18:42 UTC

  Savers withdraw US $ 400 million from Argentine accounts amid fears

  

  Argentine savers have withdrawn more than US $ 400 million from their bank accounts this week amid growing rumours that the Central Bank (BCRA) was considering a new “corralito”, like the one implemented exactly 20 years ago in the days leading up to the resignation of President Fernando de la Rúa.

• Tuesday, November 16th 2021 - 09:45 UTC

  US dollar does not soar as expected following Argentina's elections results

  

  Contrary to expectations, the unofficial exchange rate between the Argentine peso and the US dollar remained somewhat stable Monday following the ruling party's overall loss at Sunday's mid-term elections.

• Friday, October 22nd 2021 - 23:55 UTC

  Unofficial exchange rate shows Argentina's de facto devaluation

  

  The unofficial exchange rate (commonly referred to as “blue”) of the Argentine peso against the US dollar Friday hit an all-time high, reaching a US $ 1 = AR $ 195 parity thus matching an all-time-high of exactly one year ago (Oct.23, 2020), it was reported.

• Wednesday, July 28th 2021 - 09:10 UTC

  Argentina makes payment to Paris Club, loses reserves to cope with domestic demand of foreign currency

  

  Argentina Tuesday made a payment to the Paris Club which resulted in the country's reserves falling to the US $ 42,837 million, it was reported.

• Thursday, March 4th 2021 - 09:24 UTC

  Argentina's banks face a tough year: bad loans, inflation and regulations

  

  Rising inflation plus bad loans and government regulations anticipate a tough 2021 according to the CEO of Argentina's biggest private bank by market capitalization. “If inflation is high, there is a risk that bank results will fall to very low or negative levels in real terms,” Fabian Kon said in an interview in Buenos Aires.