The Central Bank today purchased roughly 630 million dollars in market trading, the biggest operation of its kind to date and aided by the debt auction last week from state petroleum company YPF.
According to official sources at the entity, dollars raised by the bond sale accounted for US$500 million of the total purchase, out of a total allocation of almost US$1.5 billion raised by the company.
The entity’s international reserves soared today as a result of the injection of funds, climbing 537 million dollars to reach US$33.22 billion – the highest figure since November 1 2013.
The Central Bank’s intervention in trading today is the largest since the Single Free Exchange Market was implemented to regulate the exchange market, in 2011.
«Today the Central Bank purchased a record figure in the exchange market. The international reserves keep going up,» Alejandro Vanoli celebrated via twitter. The Central Bank president also pointed out that «deposits in pesos and dollars are up. Credit is growing. We have achieved financial stability. Inflation is going down. We are going for more growth.»
«The only response to attacks is results. More reserves, a drop in the illegal exchange rate. The futures are going down and the BCRA is winning,» the official underlined.
Source: Buenos Aires Herald