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Central Bank of Argentina absorbs about US $ 590M in December due to seasonal demand for pesos | AmericaEconomy


#Buenos #Aires. The central bank of #Argentina (BCRA) bought about US $ 590 million for its reserves during #December, operators estimated on #Wednesday, in a month where, due to seasonality, there is strong demand for pesos and in the midst of a tight exchange control.

#In this way, the monetary entity cut a five-month streak where US $ 4,882 million was detached to try to sustain the prices of the local currency, in a context of distrust of investors about the progress of the domestic economy.

The BCRA lost some US $ 4.19 billion in the year, according to operators, against sales of US $ 3.182 billion in 2019.

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#Purchases in the twelfth month of the year, which coincide with #Reuters calculations, will offset sales of US $ 327 million in #November, the 1.09 billion used in #October, the 1.618 million sold in #September, the 1.279 million that were lost in #August. and the 568 million sold in #July.

The previous positive balance was US $ 672 million in #June, according to official data.

The wholesale peso yielded 3.37% in #December, to a historical floor of 84.14 / 84.15 units, to drag a devaluation of 28.81% in 2020, given an inflation forecast by private analysts of around 36, 5%.





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https://www.americaeconomia.com/economia-mercados/finanzas/banco-central-de-argentina-absorbe-unos-us590m-en-diciembre-por-demanda

##Central ##Bank ##Argentina #absorbs #590M ##December #due #seasonal #demand #pesos ##AmericaEconomy

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