Macroeconomy/Finance

Argentina’s Central Bank spent huge amount of dollars without being able to stop the bank run

The dollar closed the week at 65 pesos which marked a rise of 1.66 pesos and a week accumulated increase of 4.27 pesos. The Central Bank once again squandered international reserves by offering $220 million in different auctions and through direct sales. Nearly $600 million were sacrificed in one day. The reserves ended at $43.5 billion which implied a daily fall of an impressive amount of $1.75 billion.

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Source: Página 12

Categories: Macroeconomy/Finance