Central bank intervention in Monday trade confirmed, BCRA sold USD/ARS

Author: Eamonn Sheridan | Category: Central Banks

Banco Central de la República Argentina (BCRA, the Central Bank of Argentina) statement confirms the selling of 130m+ of USD/ARS

The peso has been on the decline against the USD:

Today's action dented some USD strength against the ARS:

Background in case you need it: 
  • Inflation in Argentina is higher than expected, and higher than the Bank wants, ... pass through from weak FX is a factor.
  • The BCRA held rates at its most recent meeting.
  • Today is not the only intervention from BCRA, they've been active recently. ARS is around its (real) weakest since April of 2016)