Report

Treasury sells USD 400mn to BCRA to cover coming bond payments

- Treasury converts excess FX position through BCRA instead of tapping markets
- BCRA will have to sterilize to keep up with monetary base goal
- Move to hurt BCRA's credibility as monetary policy is again subjugated by fiscal needs
- But the price may be worth paying given the Treasury's tight financing program
Provider
CEEMarketWatch
CEEMarketWatch

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