MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1122 Thurs; -1.79% Y/Y

MNI BRIEF: Aussie Unemployment Prints Tighter At 4% In May

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1122 THURS VS 7.1133

MNI BRIEF: China To Aid Outdated New-Energy Capacity Clear-out

Australia May Unemployment Rate 4.0%

MNI:AUSTRALIA MAY UNEMPLOYMENT RATE +4%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

IMF To Allow Currency Intervention, $7.5bn Disbursement Approved

ARGENTINA
  • The IMF will allow Argentina to intervene in currency markets if the peso drifts above or below a certain range. Economy Minister Sergio Massa announced the approval of propping up the peso in certain instances. He stated that only his economic team and IMF staff will know the range that will define when Argentina can intervene in order to avoid market speculation and manoeuvres.
    • As expected, the IMF approved the USD7.5bn disbursement for Argentina last night. This will be used to pay back the IMF from a previous bailout as well as other lenders such as Qatar, China, and a Caracas-based development bank. The next program review is in November.
  • Following a 2022 request, President Fernandez confirmed that the country will join the BRICS trading bloc in 2024 along Saudi Arabia, Egypt, Ethiopia, Iran and United Arab Emirates.
  • The economic calendar is light today and includes supermarket and shopping centre sales later today. Yesterday, Argentina June economic activity was released and fell by 4.4% vs -3.7% from a Bloomberg survey. Additionally, Argentine presidential candidates Sergio Massa, Patricia Bullrich and Javier Milei will speak at an event in Buenos Aires hosted by the Americas Society/Council of the Americas.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.