Tag: Argentina Central Bank

• Tuesday, June 25th 2013 - 05:57 UTC

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

  

  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

  

  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

  

  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.

• Saturday, April 27th 2013 - 04:25 UTC

  Argentines fear major devaluation of the Peso and dollar sets new record at 9.34

  

  The US dollar in the ‘blue’ or parallel market kept climbing in Argentina ending a week of consecutive records reaching on Friday 9.30 and 9.34 Pesos (buying and selling price) 14 cents more than on Thursday. Since the beginning of the year the US dollar has climbed 36.97% while the official rate stands at 5.18 Pesos, with an increase of only 5.3%.

• Friday, April 26th 2013 - 01:36 UTC

  Argentines in ‘expectations panic’ paid a record 9.20 Pesos for the US dollar

  

  The US dollar in Argentina’s parallel or ‘blue’ market continued to soar on Thursday reaching a new record high of 9.16 and 9.20 Pesos buying and selling price which over twenty cents more than on Wednesday.

• Wednesday, April 24th 2013 - 22:50 UTC

  US dollar soars in Argentina and is just a few cents away of 9 Pesos in the parallel market

  

  The US dollar in Argentina’s ‘blue’ or parallel market skyrocketed on Wednesday to 8.91 and 8.94 Pesos, beating the previous record of 8.75 Pesos from March 20, previous to Holy Week. The official rate meantime remained relatively stable and closed trading at 5.13 and 5.18 Pesos, which means the gap between the two markets stands at 71%.

• Thursday, March 21st 2013 - 06:14 UTC

  Urgent meeting of Argentine economic team as US dollar jumps 10% to 8.75 Pesos

  

  President Cristina Fernandez called an urgent meeting on Wednesday evening of her economic team following a day of hectic trading in the currency exchange market which had the US dollar climb to 8.75 Pesos in the parallel market, expanding the gap with the official rate to almost 70%.

• Friday, March 15th 2013 - 06:57 UTC

  Argentina: dollar in black market climbs to milestone 8 Pesos and 57% gap with the official rate

  

  The black market dollar exchange rate in Argentina pierced the milestone 8 Pesos mark while the official rate climbed to 5.09 Pesos with the gap between the two markets reaching 57%. The other ‘cash’ option: buying Argentine shares in Buenos Aires and reselling them in New York climbed 10 cents to 8.46 Pesos.

• Monday, February 4th 2013 - 05:18 UTC

  Argentine central bank reserves at their lowest level since December 2007

  

  Argentina’s central bank reported that at the end of January it had reserves totalling 42.65 billion dollars which is the lowest level since President Cristina Fernandez took office in December 2007. At the time the central bank international reserves totalled 46.2 billion dollars. Only in April 2007 were reserves at a lower level, 38.6bn dollars.

• Wednesday, December 26th 2012 - 06:27 UTC

  Argentine economy forecast to expand 4.6% in 2013, but dollar clamp remains

  

  Argentina's economy is seen growing 4.6% next year, improving after drought and a slowdown in top trading partner Brazil took a toll in 2012, the central bank president said in an interview published on Sunday. She also advanced that the so called ‘dollar clamp’ or strict restrictions on the purchase of foreign currency remain.