Macroeconomy/Finance

Central Bank sells dollars for first time since October 27 election

Argentina Central Bank (BCRA) sold $120 million net during the five working days of last week, after the peso closed below 60 per dollar. The bank’s intervention indicates that officials will engage to try and avoid a dramatic slump in the peso, in addition to the so-called ‘cepo’ or currency controls put in place during the final months of the Mauricio Macri government. The BCRA has also confirmed economist Sergio Woyecheszen as vice-president along other four board members.

Source: Buenos Aires Times

Categories: Macroeconomy/Finance