Argentina Central Bank Bought Dollars as Peso Strengthened Past Trading Band

Argentina Central Bank Bought Dollars as Peso Strengthened Past Trading Band

Argentina’s central bank bought dollars in the country’s currency market on Thursday,
Argentina’s central bank bought dollars in the country’s currency market on Thursday, the first such intervention since the government of Mauricio Macri renegotiated its agreement with the International Monetary Fund in September, as the peso strengthened against the U.S. currency.
 
The bank can buy up to $50 million a day if the peso strengthens past the lower end of the trading band established by the agreement with the IMF, or sell $150 million a day if the peso weakens past the upper limit of the band
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