ARS is losing 1.83% in the day to 38.544 amid negative global backdrop and with no intervention from the Central Bank of Argentina (BCRA) today. With this movement, the currency is getting back inside the target zone, set today at 38.15 and 49.38. A lower monetary policy rate, which has fallen 13 percentage points this year to 46.24%, and a total of USD 835 million in purchases by the BCRA YTD are behind the weaker currency. We expect the quote to get back below 38.5 by the end of the day.
FX February 11, 2019 / 01:46 pm UTC
Argentina Flows: ARS Gets Back to Target Band
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