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Montevideo, September 21st 2024 - 10:27 UTC

Tag: BCRA

  • Monday, August 19th 2024 - 23:07 UTC

    New shipment of Argentine gold abroad reported

    It was the third such shipment under President Milei

    A video of an armored truck carrying some 1500 gold bars from Argentina's Central Bank (BCRA) to the Ezeiza International Airport went viral Monday as the third such shipment -worth around US$ 250 million- was presumed to have left for London, it was reported in Buenos Aires. No special security was seen around the vehicle on the highway leading to the air terminal.

  • Friday, July 19th 2024 - 20:46 UTC

    Caputo confirms Argentina shipped gold abroad

    The Economy Minister exulted in telling savers that they would end up selling their US dollars to pay taxes and make the peso a strong currency

    Argentina's Economy Minister Luis Toto Caputo confirmed rumors from opposition lawmakers and union leaders indicating that the Central Bank (BCRA) was transferring gold from the country's coffers to foreign destinations. He explained that the move sought to generate a return on an otherwise unproductive metal.

  • Thursday, May 2nd 2024 - 19:39 UTC

    Argentina's BCRA again lowers basic interest rates in less than one week

    It was the fifth cutdown since the Libertarian administration of President Javier Milei took office in December last year

    Argentina's Central Bank (BCRA) once again lowered the benchmark interest rate from 60% to 50%. It was the fifth cutdown since the Libertarian administration of President Javier Milei took office in December last year. Thus, yields from fixed-term deposits will fall monthly from the current 5% per month to 4.2% for an annual effective rate of 64.8%.

  • Friday, April 26th 2024 - 20:06 UTC

    Argentina's Central Bank lowers basic interest rates

    The new contraction will be used to pay less interest

    Argentina's Central Bank (BCRA) this week lowered the benchmark interest rate by another 10 percentage points to 60% annually, it was reported in Buenos Aires. It was the fourth such cut since Javier Milei took office on December 10, 2023, when the rate stood at 133%. “BCRA announces that as of 04-25-2024, the rate for 1-business-day maturity passive operations will be 60%,” it said in a statement. It was also the second 10-point cut in April alone.

  • Tuesday, October 22nd 2019 - 09:50 UTC

    Argentine central bank has lost some US$ 19.500 million in reserves since 11 August 

    Besides rescuing US$ 500 million in bonds, the central bank also intervened in the local market with some US$ 160 million to support the Peso against the greenback

    Argentine central bank international reserves stand at US$ 46.885 million following on Monday's rescue of different maturing bonds and support in the local market to help stabilize the price of the US dollar. This demanded some US$ 600 million.

  • Friday, September 13th 2019 - 12:49 UTC

    Argentine central bank announces further currency controls

    The new measure requires anyone purchasing foreign currency to present a sworn oath promising to wait at least five days before using it to purchase bonds

    Argentina's central bank this week announced further currency controls in an effort to tame speculation and stem a spiraling debt crisis in Latin America's third-largest economy.

  • Saturday, June 8th 2019 - 09:53 UTC

    Brazil central bank denies plans for a monetary union with Argentina

    “The central bank of Brazil does not have any plans or studies in progress for a monetary union with Argentina,” it said in a statement

    Brazil’s central bank has denied any planning is underway to create a monetary union with Argentina, after a spokesman for the government in Buenos Aires said on Thursday it was the case.

  • Saturday, April 6th 2019 - 09:33 UTC

    IMF releases US$10.8 billion to Argentina and insists on fiscal prudence

    Argentina's policies that underlie the IMF arrangement are bearing fruit. The high fiscal and current account deficits are falling, said Ms Lagarde

    The Executive Board of the International Monetary Fund (IMF) completed on Friday the third review of Argentina’s economic performance under the 36-month Stand-By Arrangement (SBA) that was approved on June 20, 2018. The completion of the review allows the authorities to draw the equivalent of SDR 7.8 billion (about US$10.8 billion), bringing total purchases since June 2018 to SDR 28.01371 billion (about US$38.9 billion).

  • Wednesday, March 27th 2019 - 20:54 UTC

    Dollar rises in Uruguay while tension increases in Argentine markets

    The dollar almost reached $ 35 in the private slates of Montevideo, waiting for what will happen in the markets of the region.

    In Uruguay, the dollar traded at noon on the state bank Banco Republica (Brou) board at $ 33.20 for the purchase and $ 34.60 for the sale, 45 cents above the close price on Tuesday. On the board of private exchanges, the currency to the public came to sell at $ 34.80 and $ 34.90.

  • Tuesday, November 27th 2018 - 09:27 UTC

    IMF praises Argentina's reforms program and anticipates rebound of activity in 2019

    IMF officials conducted the review in Buenos Aires from Nov. 9 to 16, and met with Economy Minister Nicolas Dujovne and Central Bank Governor Guido Sandleris

    The International Monetary Fund has completed its second review of Argentina, the fund said on Monday, paving the way for the country to receive US$7.6 billion under a US$ 56.3 billion financing deal.

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