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Reserves Reach Nine-Month High Amid Commodities Boost

ARGENTINA
  • Commodities Boom Swells Argentina's Reserves to Nine-Month High (Bloomberg)
    • A jump in prices for Argentina's commodity exports is bolstering the central bank's coffers, a rare positive development for the economy that's providing a small boost to bond investors' confidence.
    • Net international reserves -- the central bank's holdings after subtracting dollar deposits at retail banks, international loans and other illiquid assets --- have more than doubled since February to $6.9 billion, the highest in nine months, according to local consulting firm EconViews. It's a welcome turnaround after reserves fell over the past two years amid a dearth of foreign investment and the country's $65 billion restructuring.

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