The Central has spent $3.1 bn of reserves since the debt swap

The Central Bank (BCRA) sacrificed some $3.1 billion of its reserves in interventions on the local exchange market since last August 4; the figure comes from the balance obtained in the 45 wheels after that announcement, considering that the official data updated until last Tuesday, October 6: in 40 of them it had to sell. The reserve crisis feeds back by impacting on the exchange gap, the country risk rate (which today is close to 1400 points and rises 38% after the debt renegotiation) and accelerating the withdrawal of dollar deposits from the banks, a stock that contracted 10% (fell by more than $1.7 billion) since mid-September.

Source: La Nación