February 6, 2019 / 3:40 PM / 6 months ago

Argentine cenbank buys a total of $75 mln in two interventions

BUENOS AIRES, Feb 6 (Reuters) - Argentina’s central bank said it bought a total of $75 million in the foreign exchange market on Wednesday, as part of its program of containing the value of the local peso currency.

The bank announced its purchase of $50 million late in the morning at an average price of 37.432 pesos per U.S. dollar. It later said it bought $25 million at an average 37.376 pesos to the greenback. The bank has set a no-intervention trading band of 38.021 and 49.203 pesos to the dollar.

So far this year the bank has purchased $835 million in interventions aimed at keeping the peso in the trading band, which was established as part of the country’s $56 billion standby financing deal with the International Monetary Fund.

Reporting by Walter Bianchi, writing by Hugh Bronstein Editing by Chizu Nomiyama

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