Argentinian central bank raises large banks’ reserve requirements
Central bank in talks with China over credit swap sells over $1 billion this week to defend falling peso
The Central Bank of Argentina (BCRA) tightened the reserves requirements of the country’s largest banks on August 16, and confirmed it is in talks with China over a multi-billion dollar swap deal.
The central bank also continued to sell large amounts of its dollar reserves as the country’s currency came under continued pressure, while year-on-year inflation continued to rise.
The central bank increased the minimum rate of peso deposits that large banks must keep in reserve by three percentage
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