Companies only bought 7.6% of the offered amount in the second Bopreal auction
Companies only bought 7.6% of the offered amount in the second Bopreal auction
The first round of bidding ended Thursday with 34 offers amounting to only US$68 million
Analysts say the decision could encourage investors to dollarize their assets
Santiago Bausili, the Central Bank president selected by Javier Milei, has yet to assume his role at the institution
The rate at Argentina’s state-owned bank is AR$400.5 per U.S. dollar, a 6% devaluation compared to the rate of the Central Bank
Bausili served as finance secretary during the Macri administration
The LEDIV bond, touted by some as a shield against devaluation, was slashed after its total stock soared to US$6 billion
The president-elect’s team stated that they were confirming his commitment in order to shut down what they called ‘false rumors’
The decision affects their operations in US dollars following a run on the peso and severe reserve scarcity