News of foreign currency

Milei says legislative win paves way for monetary policy pivot

28-06-2024 13:56 President Milei says government will change its monetary policy framework following his first major legislative victory.

FOREIGN CURRENCY RESERVES

Milei’s push to rebuild Argentina’s foreign reserves grinds to a halt

26-06-2024 23:36 Argentina's Central Bank is struggling to rebuild its chest of foreign reserves as it starts to spend money in currency markets to defend controls propping up the peso.

RELATIONS WITH CHINA

Central Bank chief Bausili among top officials headed to China

18-04-2024 18:02 Top government officials are preparing to visit China in the next few weeks as President Javier Milei ditches his aggressive rhetoric against Beijing in a bid to deepen ties with a key trade partner.

FINANCE

Milei seeks US$15 billion for removal of currency controls

18-03-2024 11:24 President Javier Milei says he would open up restrictions on foreign currency immediately if he has US$15 billion; Money could be provided by the IMF, multilateral bodies, private investors and even “some countries."

ECONOMIC POLICY

Milei sets June deadline for lifting of capital controls

08-02-2024 06:24 Casa Rosada has a list of conditions required and assures that the dollar can be kept to around 1,000 pesos.

Presidential handover

Argentina stops banks from hoarding dollars ahead of devaluation

07-12-2023 13:34 Central Bank limits amount of foreign currency the nation’s commercial lenders can hold, in a push to discourage US dollar hoarding ahead of an expected devaluation by president-elect Javier Milei.

Election 2023

Massa's gradual approach versus Milei's radical plans

24-10-2023 13:58 Presidential candidates, set to face off in a run-off election on November 19, have diametrically opposing views on everything from economic to foreign policies, and most notably on the size and role of the state..

BLOOMBERG – ANALYSIS

Recession, inflation, devaluation: Economic troubles in 5 charts

19-10-2023 13:46 Argentina’s next president will take over in the middle of a financial emergency — which is par for the course in one of the world’s most dysfunctional economies.

HELP FROM BEIJING

China lets Argentina tap extra US$6.5 billion from swap line

18-10-2023 14:01 Move comes right before Argentina’s presidential election on Sunday as political uncertainty roils markets and the peso’s parallel exchange rate sells off.

FOREIGN EXCHANGE

‘Blue’ dollar soars – parallel exchange rate nears 900/greenback

06-10-2023 16:18 Movement of people and companies trying to dollarise is being felt given the proximity to the presidential election as exchange rate turbulence continues.

BLOOMBERG - OPINION

Eduardo Porter: Argentina's dollarisation is a dangerous delusion

06-09-2023 11:08 Instead of hoping for a deus ex machina to restore macroeconomic stability, Argentines should strive for political institutions that reach the agreements every healthy economy needs.

BUENOS AIRES & BEIJING

China allows Argentina to spend up to US$10 billion of currency swap line

02-06-2023 13:20 Chinese officials approve Argentina tapping up to 70 billion yuan (US$9.89 billion) of currency swap line, double the previous limit, according to a Central Bank statement.

CURRENCY SWAP

Argentina seeks bigger China swap line to prevent peso sell-off

24-05-2023 10:48 Argentina’s government is asking China for an expansion of its bilateral currency swap in yuan as it seeks to build up reserves.

BLOOMBERG - ANALYSIS

JP Spinetto: Argentina’s problem is economic malpractice, not the peso

17-05-2023 09:24 Dollarisation won’t bring much-needed stability to South America’s second-largest economy.

BLOOMBERG – ANALYSIS

Central banks use record amount of yuan via PBOC swaps

16-05-2023 10:59 Global central banks tapped a record amount of the Chinese currency in foreign-exchange swap lines in the first quarter, in another indication of the yuan’s growing international status.

ECONOMIC INDICATORS

Central Bank reserves drop to lowest level since 2016

03-05-2023 12:44 Central Bank reserves slump to their lowest level since October 2016 as institution plunders state coffers to defend struggling peso.

FEATURE

Epic drought pushes economic crisis to new extremes

12-04-2023 15:43 Exports poised to plummet with almost half the soy crop ruined; Dollar shortage putting pressure on peso, fuelling inflation.

BRAZIL LEADER IN ARGENTINA

Lula lands in Buenos Aires seeking rebuild bridges in Latin America

23-01-2023 09:56 Brazilian Foreign Minister Mauro Vieira says Lula's visit to Buenos Aires and attendance at CELAC summit is part of a foreign policy that will seek to "rebuild bridges" with the international community.