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ARGENTINA: BCRA's Werning Says Central Bank Spent $600mn On FX Intervention

ARGENTINA
EM BulletBulletGlobalEmerging Market NewsRegion
  • Speaking at a business conference at the Buenos Aires Stock Exchange, BCRA deputy governor Vladimir Werning has said that the central bank has spent just over $600mn to intervene in parallel currency markets since July, while purchasing more than $2bn for its foreign reserves.
  • Werning said that it’s false that intervention is destined to deplete central bank reserves, and that with the correct fundamentals, intervention was able to anchor expectations and improve central bank liquidity, according to Bloomberg.
  • Economy Minister Caputo and Finance Secretary Pablo Quirno are also due to speak at the conference later today.
    • "*ARGENTINA HAS SPENT $600M INTERVENING IN FX MAKRETS: WERNING"
    • "*WERNING SAYS ARGENTINA CENTRAL BANK HAS BOUGHT OVER $2 BILLION" - BBG
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  • Speaking at a business conference at the Buenos Aires Stock Exchange, BCRA deputy governor Vladimir Werning has said that the central bank has spent just over $600mn to intervene in parallel currency markets since July, while purchasing more than $2bn for its foreign reserves.
  • Werning said that it’s false that intervention is destined to deplete central bank reserves, and that with the correct fundamentals, intervention was able to anchor expectations and improve central bank liquidity, according to Bloomberg.
  • Economy Minister Caputo and Finance Secretary Pablo Quirno are also due to speak at the conference later today.
    • "*ARGENTINA HAS SPENT $600M INTERVENING IN FX MAKRETS: WERNING"
    • "*WERNING SAYS ARGENTINA CENTRAL BANK HAS BOUGHT OVER $2 BILLION" - BBG