Reported 7 months ago
Argentina's central bank has started to reduce its aggressive buying of dollars, with net purchases in early June amounting to around $99 million, the lowest this year. The slowdown is attributed to weaker-than-expected sales of grains by local farmers. Since President Javier Milei took office, the central bank has accumulated over $17 billion in foreign currency reserves, aiming to pay off creditors like the IMF and restore economic stability. This shift in reserve accumulation is crucial for the government to lift currency controls and promote business and trade.
Source: YAHOO