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Argentina central bank speeds up FX sales to prop up peso - REUTERS

MARCH 19, 2025

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Summary

  • Argentina cenbank speeds up FX sales to support currency
  • Pressure on peso has risen amid IMF deal uncertainty
  • Government has rebuilt reserves, but they remain in the red

BUENOS AIRES, March 18 (Reuters) - Argentina's central bank is being forced to sell dollars at an accelerated rate to prop up the peso amid rising global uncertainty, including questions over a new deal with the International Monetary Fund.
The bank, which has been battling for over a year to reverse a deep deficit in foreign currency reserves, sold off over half a billion dollars in the latest two rounds of interventions, breaking a six-week streak of net dollar purchases.

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