The Minister of Economy, Sergio Massaassured that thanks to deal with China Argentina has available “10 billion dollars to work in the single market and free trade”. His announcement comes amid four consecutive days of gains in free quotes and financial dollars, which have skyrocketed in recent days and increased the speed of the uptrend.
“There has been a doubling of unlimited reserves for the Central Bank which goes from having 5,000 million as a result of the collection of the soybean dollar to 10,000 million as a result of the release of part of the swap in the agreement with porcelainwith which Argentina has 10,000 million available to work in the single market and without exchange rates,” he explained. Sergio Massa.
The country signed agreements after negotiations with China during the tour in which Massa accompanied President Alberto Fernándezand reaches 5,000 million SWAP dollars in yuan, which will become unlimited reserves.
Thus, the official explained the BCRA’s strategy to achieve keep the price in currency which day after day presses more and is devaluing the dropper.
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The operation consisted of switch from gross to net reserves approximately 36,000 million yuan with free availability as the Central Bank deems appropriate.
At the moment, the terms and conditions under which these funds are “released” or the cost have not been disclosed.
“This is also important for Argentina’s manufacturing sectors because it allows them to access the flow of dollars for imported inputs and intermediate goods“, added the minister.
positive balance sheet.
After closing this Thursday, the Central Bank (BCRA) closed the second consecutive round with purchases of only 3 million dollars on the foreign exchange market, which do not compensate the negative balance of 908 million dollars accumulated in the month.
The positive balance is attributed to lower demand for imports and a slight increase in exports.
approximately
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