Banco Central, Argentina

The drop in the blue dollar and the sharp rise in rates were not enough for the Central Bank to add reserves

Despite the drop in Dolar blue, which closed the week $295, and the strong rate hike, the Central Bank (BCRA) could not take advantage on Friday the “breather” in the price of the parallel currency and ended the trading day with barely $1 million buyer balance. The reserves of the BCRA were today at the … Read more

Argentina is running out of cash to stave off devaluation

Even in Argentina, a country whose very name has become synonymous with financial crisis, the current moment is dire. With inflation hurtling toward triple digits and, economists say, just a policy mistake or two away from setting the stage for hyperinflation, the central bank is desperately trying to avert a peso devaluation that would only … Read more

Argentina pledges end of money printing to battle 60% inflation

Argentina’s Economy Minister Sergio Massa pledged Wednesday night to stop printing money that helps fuel runaway inflation, outlining his strategy to turn around the country’s deepening crisis. Massa rolled out his economic road map after being sworn in by President Alberto Fernández as the third such minister in a month. Massa’s measures also focused on … Read more

Banco Central

Argentina moves to hike key rate by 800bps

Argentina’s central bank offered its Leliq note, which is used as the benchmark interest rate, at a rate of 60%, representing an 800 basis-point increase and the largest hike in almost three years. The rate increase was communicated to traders through the local Siopel trading system, according to people with direct knowledge of the matter … Read more