Argentina's Economy Minister on Central Bank's Role in Dollar Stability

Argentina's Economy Minister Luis Caputo stated that without Central Bank intervention, the dollar could be at 1,300 pesos instead of the current 1,470. He emphasized that official measures are curbing the national currency's appreciation.

Buenos Aires, Feb 2 (NA) – Economy Minister Luis Caputo stated on Monday that the dollar might currently be at “1,300 pesos” compared to the 1,470 pesos it closed at that day, were it not for the Central Bank's intervention. “If the Central Bank had not been there, today the dollar would probably be around $1,300,” the minister affirmed in a conversation with Radio Rivadavia, emphasizing that official intervention is containing a greater appreciation of the local currency. In this regard, he highlighted that the Central Bank bought nearly $1.2 billion “with the dollar on a downward trend”.

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