Deposits in foreign currency fell 19.3% last September, compared to August, while private sector deposits in Argentinian pesos decreased 2.8% in real terms, Argentina Central Bank (BCRA) reported.
Argentina registered a trade surplus of $ 1.77billion in October as a result of a 9.1% year-on-year increase in exports that totalled $5.89 billion compared to imports of $4.12 billion.
Argentina Minister of Finance, Hernán Lacunza, said that Argentina has “more than enough reserves to have a sufficiently high negotiating space” for the next Administration. “The total reserves are going to border the 45 billion dollars,” said Lacunza.
Japanese buyers are weighing the option of procuring corn from Argentina or the US Gulf amid a lack of Brazilian corn for January and February shipments, trading sources said.
Energy company Rurelec has signed agreements to amend its constitutional relationship with joint venture partner Basic Energy, each of whom own 50% of Patagonia Energy. The new agreements set out a new debt repayment schedule after Rurelec noted Argentina’s decision to impose exchange controls on US dollars.