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Pesce's latest trap: the Central Bank further limits banks' holdings of dollars

2023-12-07T15:07:46.009Z

Highlights: Pesce's latest trap: the Central Bank further limits banks' holdings of dollars. It seeks to contain demand from banks until December 31. In its last decision under the command of Miguel Angel Pesce, the board of directors decided on the last working day before the inauguration of Javier Milei to further tighten the clamp on the official dollar, days before the most announced devaluation in recent years. The rules always talk specifically about the dollars of the banks, they have nothing to do with the dollar of the savers.


It seeks to contain demand from banks until December 31.


In its last decision under the command of Miguel Angel Pesce, the board of directors of the Central Bank decided on the last working day before the inauguration of Javier Milei to further tighten the clamp on the official dollar, days before the most announced devaluation in recent years.

The monetary entity issued communication A 7910 in which it maintains that, from this Thursday until December 31, banks may not have a daily spot position of foreign currency higher than the lowest that arises from comparing the level recorded on November 12 and December 6.

The communication repeats almost verbatim another communication that the Central Bank had set on 13 October, in which they had frozen the banks' holdings on that date.

The rules always talk specifically about the dollars of the banks, they have nothing to do with the dollars of the savers.

Developing Note

NE

Source: clarin

All business articles on 2023-12-07

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