Argentina's central bank reduces aggressive dollar purchases in June due to weaker grain sales.

Argentina's central bank slows down aggressive dollar purchases amid weaker-than-expected grain sales. The bank made net purchases of $99M in June, the lowest this year, as it struggles to maintain the rapid pace of foreign currency accumulation since new President Javier Milei took office in December. Since December 10, Argentina's central bank has bought over $17B in foreign currency to rebuild reserves.

June 12, 2024
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