The government is closely monitoring the blue dollar quote as it sought to raise foreign exchange to bolster central bank reserves, which had pledged after the $2,315m payment to cancel maturities with the IMF and meet interest on securities entered into the debt swap in 2020.
New in development
The blue dollar closed at $355 on Monday
The US currency in the informal market rose $1 at the start of the week and closed this Monday at $351 for buying and $355 for selling.
Reserves pledged: The government paid US$2.3 billion to the IMF and bondholders for the swap
The president of the Central Bank, Miguel Angel Pesce. Photo: Xinhua.
The Government has allocated 2,315 million dollars to cancel the maturities with the IMF and meet the interest on the bonds entered into the exchange in 2020. The operation carried out between last Friday and this Monday has impacted on reserves, halfway through the government’s efforts to get hold of dollars in a context marked by the scarcity of foreign currency.
Gross reserves closed at $44.425 million, down $1.057 million from Friday, according to data from the Central Bank. But also, according to private calculations, payments to bondholders and other transactions reduced net reserves from more than $7 billion to $6 billion. This is the indicator that the Fund looks at to assess the reserve target. Read more here.
Source: Clarin
