June 28, 2018 / 6:16 PM / 19 days ago

UPDATE 1-Argentina central bank boosts dollar sales as peso slides

(Adds closing exchange rate, details of auction sale)

BUENOS AIRES, June 28 (Reuters) - Argentina’s central bank auctioned $150 million on Thursday and will sell the same amount on Friday, the bank said in a statement, up from the $100 million in treasury funds offered in daily auctions that began last week.

The move came as the peso currency resumed its slide following a week of relative stability after touching record lows earlier this month. The peso closed down 2.4 percent at 28.12 per U.S. dollar, and has declined 11.2 percent so far in June at 33.6 percent in 2018.

The run on the peso had prompted Argentina to turn to the International Monetary Fund (IMF) for a $50 billion stand-by financing deal.

The IMF disbursed the first $15 billion last week, and the central bank outlined a plan to convert $7.5 billion of that into pesos through 75 daily auctions to finance the budget.

It had said that each of those auctions would be for $100 million, but that the figure could be modified due to “greater seasonal needs for pesos.”

The $150 million auctioned on Thursday at 1 p.m. local time (1600 GMT) were sold at an average price of 27.75 pesos per dollar. (Reporting by Luc Cohen Editing by Chizu Nomiyama and Diane Craft)

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