ARGENTINA: Reserves Increase By US$ 1.86 Billion In August (Update)

The Argentinean Central Bank (BCRA) said international reserves increased by US$ 1.862 billion in August, closing the month at US$ 48.877 billion.

During August, the increase in international reserves was primarily due to the National Treasury’s foreign currency income for bonds placements for US$ 6.156 billion.

Also, the National Treasury faced US$ 2.032 billion in bill maturities and made cancellations of capital and interest to international organizations and holders of other securities denominated in foreign currency for approximately US$ 220 million. In addition, a US $ 72 million payment was made to the Latin American Integration Association (ALADI).

In August, the National Treasury sold US$ 2.1 billion, and banks and other entities, US $ 362 million. This total was purchased by private sector clients for US$ 1,903 million through the Single Market and Free of Exchange and by the BCRA for US$ 567 million.

Finally, the monetary authority recorded a US$ 2,539 million “other net” outflow, which includes the performance of reserves, adjustments in valuation, the purchase and sale of securities, movements in National Treasury accounts and BCRA’s operations.

The material has been provided by InstaForex Company – www.instaforex.com

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