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2d ago

Argentina Sets Indexed FX Band for Jan. 1 as Reserves Reach $43.61 Billion

A looming $4.2 billion bond payment is sharpening questions over the feasibility of the incoming reserve-accumulation plan.

Analistas estiman que la inflación de diciembre se ubicará en torno de 2,5%
Panero carnicería y rotisería fotos Constanza Niscovolos - FTP CLARIN DSC_6868.jpg Z Invitado
Julio Velarde, presidente del Banco Central de Perú y artífice del régimen bimonetario de ese país
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Overview

  • Central bank reserves rose $596 million on Dec. 26 to $43,610 million, with officials citing multilateral inflows and valuation gains.
  • The official retail dollar held at 1,425/1,475 pesos at Banco Nación, while the blue dollar climbed about 25 pesos to roughly 1,510/1,530 and MEP/CCL hovered near 1,488/1,534.
  • The BCRA reported a $1.163 billion current-account deficit in November, and household dollar buying fell to the lowest level since the April easing of controls.
  • The new framework starting Jan. 1 sets an exchange-rate band with a ceiling indexed to past inflation and launches a preannounced program of reserve purchases.
  • Analysts note net reserves remain negative under the IMF measure and highlight the Jan. 9 maturity of about $4.1–$4.3 billion as a key test for the goal of adding $10–$17 billion in reserves.