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ARGENTINA: BCRA Sends Some Gold Reserves Abroad For Financial Certification

ARGENTINA
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  • The BCRA is reported to have sent some of its gold reserves abroad recently to be validated for financial use, a move which could allow the gold to be used as collateral for financing, according to people familiar with the matter. Yesterday, the BCRA also confirmed that it had moved some of its ~$5bn reserves in gold between its accounts, without providing further details. Once certified, gold bars can be traded freely between institutions within the market.
  • Meanwhile, data released last night showed that government tax revenue was ARS 11.764tn in August, following a figure of ARS 11.91tn in July. No major data are due today, with August vehicle sales expected tomorrow and the latest BCRA analyst survey due on Thursday.
  • Separately, President Milei is due to meet with the chief of government of Buenos Aires Jorge Macri at 1500BST(1000ET) today.
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  • The BCRA is reported to have sent some of its gold reserves abroad recently to be validated for financial use, a move which could allow the gold to be used as collateral for financing, according to people familiar with the matter. Yesterday, the BCRA also confirmed that it had moved some of its ~$5bn reserves in gold between its accounts, without providing further details. Once certified, gold bars can be traded freely between institutions within the market.
  • Meanwhile, data released last night showed that government tax revenue was ARS 11.764tn in August, following a figure of ARS 11.91tn in July. No major data are due today, with August vehicle sales expected tomorrow and the latest BCRA analyst survey due on Thursday.
  • Separately, President Milei is due to meet with the chief of government of Buenos Aires Jorge Macri at 1500BST(1000ET) today.