Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, April 19th 2024 - 14:08 UTC

Tag: Central Bank of Argentina

  • Friday, June 30th 2023 - 10:28 UTC

    Argentina to pay the IMF with Chinese money

    Argentines will also be able to open bank accounts in yuan, the BCRA ruled

    Argentine authorities Thursday announced that ”the payment of 2.7 billion dollars to the IMF corresponding to the second quarter will be made, partly in Special Drawing Rights (SDR) of the Treasury and partly with yuan, without using Central Bank reserves.”

  • Saturday, May 6th 2023 - 10:54 UTC

    Central Bank report corrects Argentina's inflation projections upwards

    For the next twelve months, the REM anticipates inflation will reach 146.5%.

    According to the Argentine Central Bank's (BCRA) Market Expectations Survey (Relevamiento de Expectativas de Mercado - REM) report published Friday, the panel of economists issuing that document has made an upward correction to their inflation forecasts for 2023, placing it at 126.4%, or 16.4 percentage points above April's projections, while last month's Consumer Price Index (CPI) is believed to be of 7.5%. The National Institute of Statistics and Census (Indec) will release the official data on May 12.

  • Friday, April 28th 2023 - 11:15 UTC

    “Blue” dollar keeps backtracking in Argentina

    Massa secured a US$ 690 million loan with the Development Bank of Latin America (CAF) during a meeting in Uruguay. Photo: Gastón Britos / FocoUY

    The “blue” (a euphemism for “black market”) dollar dropped to AR$ 467 Thursday after further announcements and measures from Argentine authorities, after reaching an intraday record of AR$ 497 on Tuesday. It is still an AR$ 72 peso (18.2%) increase for the month of April.

  • Saturday, April 22nd 2023 - 10:54 UTC

    Argentina: How did the President's announcement hit the foreign exchange market?

    It was the second consecutive day of acquiring dollars for the BCRA.

    President Alberto Fernández's announcement Friday that he would not seek reelection this year triggered the US dollar further up against the Argentine peso, reaching AR$437 / AR$442 (buy/sale) at the “blue” (a euphemism for “black market”) exchange rate. Meanwhile, the official rate stood at AR$217/AR$225 (buy/sale), for a gap of 102.26% between the two quotations.

  • Thursday, April 20th 2023 - 10:23 UTC

    How far up did the US dollar go Wednesday against the Argentine peso?

    After six days of purchases, Argentina's Central Bank had to sell dollars to avoid a sharper increase in the “blue” rate

    Argentine Economy Minister Sergio Massa seems unable to find a way out of the country's current crisis. In this scenario, the “blue” dollar (a euphemism for “black market”) rose five more pesos Wednesday to close at AR$ 423 as the Central Bank (BCRA) ended with a negative balance of US$197 million, this bringing a streak of six positive rounds to an end. The country risk remained at 2,474 basis points, according to JP Morgan's index.

  • Tuesday, April 18th 2023 - 10:50 UTC

    Argentina: “Blue” Dollar hits new ceiling of AR$ 408

    Traders and government officials foresee US$ 5 billion added to the BCRA reserves thanks to the agrodollar ending May 31.

    The “blue” (a euphemism for “black market”) dollar closed rose by AR$ 8 and closed at AR$ 408 Monday, reaching a new all-time high, it was reported in Buenos Aires. It had closed at AR$ 400 on Friday. The Argentine Central Bank bought US$ 73 million to add to its dwindled coffers.

  • Saturday, April 8th 2023 - 10:13 UTC

    Argentina: inflation projections take turn for the worse

    The Central Bank's survey showed inflation will not fall below 6% monthly, at least until September

    Leading Argentine economists foresee the country's inflation in 2023 might reach 110%, a 10.2 % increase from previous projections, it was explained in Buenos Aires. The projection thus reached three digits for the first time since the REM was implemented.

  • Wednesday, March 22nd 2023 - 10:24 UTC

    Massa to announce new measures as Argentine peso sinks against US dollar

    Massa will tell businessmen over breakfast about the measures to be published in the Official Gazette

    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.

  • Monday, January 9th 2023 - 09:51 UTC

    Argentina finalizes currency swap with China

    According to private estimates, the swap with China accounts for little less than half the Central Bank's international reserves

    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.

  • Friday, August 12th 2022 - 09:32 UTC

    BCRA raises interest rates to bring down inflation projections

    Inflation in Argentina is one of the highest worldwide.

    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.