The Central Bank reserves fell US $ 132 million today (to US $ 33.705 million) of which US $ 118 million resulted from the 1.8% devaluation of the Chinese yuan.
The decline in reserves was given by the currency depreciation of the Asian giant, and to a lesser extent the pound sterling. “The changes in foreign currencies against the dollar (eur + 0.06%, GBP -0.15%, gold + 0.34% -1.82% RMB) and foreign securities that are part of the reserves showed a negative balance of USD 118 million” He said the daily statement of the Central Bank.
The reserves are valued in dollars but are not all in that currency. Then, when the price of gold, the euro, the yuan and pound it moves, vary the amount of funds.
The People’s Bank of China today devalued by 1.86% the reference price the yuan against the dollar, the largest downward revision of the value of its currency in two decades, and reformed the exchange rate system to stimulate its economy.
The president of the Central Bank, Alejandro Vanoli , today said that the depreciation “patrimonially not affect the BCRA” and said the company “will continue its policy of managed float” within the framework of a model of consolidating stability and employment development including social.
Through his Twitter account, the executive said that “the devaluation of the yuan will not be financially affected by Central Bank of Argentina because the assets in that currency are perfectly shod liabilities”.
Moreover, the central bank ended its daily intervention in the exchange market with a salesperson balance of $ 50 million . So far the company August fell from US $ 470 million and US $ 655 million in the last twelve days .
According to private sources, low in the settlement of foreign currency by exporters is normal for this time of year, especially of cereal, although the dollar inflows in this sector is lower for now at 2014.
With regard to dollar selling authorizing the AFIP, the dollar savings , on Tuesday sold $ 24 million , with which accumulated in the month and reached US $ 433 million .
Also in the tender Lebacs Tuesday, the central bank drew $ 1,906 million, without changes in interest rates for different maturities. In Lebacs dollar, there were bids for US $ 258 million and the stock rose US $ 43 million.
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