With the informal exchange rate between the Argentine peso and the US dollar known as blue going up AR$ 8, and reaching a new record high of AR$ 394, Economy Minister Sergio Massa is planning a set of measures to reverse that trend. The new package is to be conveyed to businessmen and bankers over breakfast Wednesday before being announced.2 comments
Argentina's Central Bank (BCRA) and the People's Bank of China (PBC) have reactivated a currency swap to help the South American country offset foreign exchange market operations and strengthen reserves.
Argentina's Central Bank (BCRA) Thursday decided on a sharp rise in interest rates to calm down inflation projections. The measure was taken before data for July 2022 was released later in the day.
Argentina's National Institute for Statistics and Census (Indec) Thursday announced that inflation for the month of April of 2022 had reached 6% for a total of 58% in the last 12 months, which turned out to be the country's highest figure in 30 years.
The weekly survey of market expectations, REM, from the Central Bank anticipates a worsening of the inflation situation in Argentina, which once the April index is officially made public this week could represent 65% for the twelve months of 2022.
Argentina's Central Bank (BCRA) has adjusted the basic interest rate by 250 basis points to 47% per annum in nominal terms in a move to counter the effects of rampant inflation.
Argentine Foreign Minister Santiago Cafiero is on a diplomatic mission to Washington DC where he is to hold meetings with US Secretary of State Anthony Blinken and with House Speaker Nancy Pelosi in a move aimed at gathering some support ahead of new negotiations with the International Monetary Fund (IMF).
Foreign trade has meant around US $ 15 billion for Argentina's Central Bank (BCRA) in 2021, according to projections reported Monday in Buenos Aires. It became the fifth best surplus so far in the 21st century, despite November's US $ 117 million deficit, the first setback since 2018.
Argentina's Central Bank (BCRA) Thursday ruled that international travel tickets and other tourism items purchased through credit cards and whose values are expressed in US dollars or any other foreign currency but converted to Argentine pesos on the date of the operation cannot be split into monthly payments.
Argentine Economy Minister desperately needs to reach an agreement with the International Monetary Fund (IMF) this week, because the Central Bank (BCRA) has only US $ 800 million left in cash with which to intervene in the local exchange market, which is pressing for a devaluation.