Forex - Argentina Flows: ARS Stays Below Target Band Even After USD20m BCRA Intervention [UP AT]


 16:27 (GMT) 10 Jan

  [Forex Flows]

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Argentina Flows: ARS Stays Below Target Band Even After USD20m BCRA Intervention [UP AT] (0101-HDFY-C01)

As ARS breached the lower bound of the no intervention zone, which has been set at 37.35, the Central Bank has reportedly bought USD 20m at an average price of 37.305. The currency, however, is still below the target band at 37.276. The Bank will liklely have to continue buying USD to take the currency back to the target band. This operation would increase the money base, in turn reducing the appreciating pressures in the ARS.


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