Report

BCRA’s room to buy FX grows, parallel rates stable despite monetary base growth

- BCRA buys FX for USD 1.1bn in first two weeks after tightening FX market access rules
- Buying FX key to help federal govt cover short-term obligations
- Positive FX dynamic can last months, but high inflation will eventually lead to deep CA deficit and force through changes
- Monetary base expands fast in October, so far only leads to corporate lending revival
Provider
CEEMarketWatch
CEEMarketWatch

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