Argentina's central bank starts selling US dollars in parallel markets to narrow the exchange rate gap and combat high inflation.

Argentina's central bank will sell US dollars in the country's parallel foreign exchange markets starting Monday, a move Economy Minister Luis Caputo called "a deepening of the monetary framework." The central bank aims to contain the widening gap between Argentina's official exchange rate and parallel rates traded in financial markets. Annual inflation remains high at 272%, prompting this new strategy to stabilize the exchange rate and reduce inflation.

July 13, 2024
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