Argentina sells dollars in parallel FX market
Domestic currency’s CCL value jumps as central bank tightens monetary supply
The Central Bank of Argentina (BCRA) on July 15 began selling US dollars in a parallel foreign exchange (FX) market as part of the authorities’ efforts to tackle the country’s persistently high inflation.
Economy minister Luis Caputo announced the measure last week. In a posting on social media, he stated that if the BCRA bought dollars on the official foreign exchange market, the injection of equivalent pesos into the monetary supply would be counteracted through the sale of an equivalent amount
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