Central Bank Set to Sell US Dollars in Parallel FX Market

Sunday, 14 July 2024, 12:31
Argentina's Economy Minister, Luis Caputo, announced that the Central Bank will intervene by selling US dollars in the country's parallel foreign exchange markets, a move set to begin on Monday. The decision aims to stabilize the local currency and balance the exchange rate amid economic uncertainties. This intervention reflects the government's proactive approach to mitigate currency volatility and its impact on the economy.
Batimes
Central Bank Set to Sell US Dollars in Parallel FX Market

Argentina's Monetary Strategy

Economy Minister Luis Caputo disclosed plans for Central Bank intervention in the parallel FX market.

Stabilizing Currency Rate

The aim is to sell US dollars to address exchange rate fluctuations in the local market.

Proactive Government Measures

This decision underscores the administration's commitment to stabilize the economy by managing currency fluctuations through targeted interventions.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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