Argentina’s central bank (BCRA) continued its aggressive dollar-accumulation campaign on Tuesday, purchasing USD 28 million in the foreign exchange market.
The intervention marks the fifth straight day of buying, extending a streak that has now persisted for over four months.
6 billion, reaching their highest level in nearly seven years and a new peak under the current administration.
As a result of these consistent inflows, the country’s gross international reserves have climbed past USD 49.6 billion, reaching their highest level in nearly seven years and a new peak under the current administration.
The central bank’s persistent buying pressure is a key factor in stabilizing the local currency, even as the US dollar index has surged to its highest level in 13 months globally.
Traders have been adjusting expectations for Federal Reserve policy, driving a broad wave of buying interest in the greenback.
Additionally, safe-haven flows have intensified following fresh escalations in the Middle East, further strengthening the dollar against emerging market currencies.