Update: *ARGENTINE CENBANK SAID TO OFFER $5B IN PESO MARKET AT 25/USD
* * *
The Argentine Central Bank spent over $1 billion buying pesos on Friday (and another billion to buy short-term bonds back) to support the collapsing currency…
But… the weekend appears to have provided no confidence improvement for investors who are wary of this week’s maturing bills and the potential delays of any IMF bailout…
Some investors are spooked by the fact that, as Bloomberg reports, members of the central bank’s monetary policy committee met with representatives of the nation’s top banks on Saturday to discuss the recent FX volatility and Tuesday’s note auction, according to two people with direct knowledge of the matter.
Furthermore, the central bank asked banks to guarantee branches have enough cash on hand.
via RSS https://ift.tt/2rH39J7 Tyler Durden