Arab Today, arab today argentina kept taking dollars out of banks
Last Updated : GMT 09:22:01
Arab Today, arab today
Arab Today, arab today

Argentina kept taking dollars out of banks

Arab Today, arab today

Arab Today, arab today Argentina kept taking dollars out of banks

Buenos Aires - Arabstoday

Dollar deposits at Argentine banks shrank 7 per cent last week, according to central bank data released on Friday, falling more sharply than the previous week as jitters persisted after the government imposed currency controls to stem capital flight. Dollar deposits fell to $14.3 billion from Nov. 7 to Nov. 11, while deposits in Argentine pesos grew 0.19 per cent to total 417.76 billion pesos (roughly $98 billion), the central bank said. The central bank’s vice president, Miguel Pesce, said dollar withdrawals slowed sharply this week, however. Official data will not be available until Friday, Nov. 25. “There was a significant deceleration in withdrawals, which were minimal toward the end of the week, indicating the scenario is improving,” Pesce told state news agency Telam. Gustavo Ber, a market analyst, added: “There was no justification for the magnitude of withdrawals we saw in the first days or weeks (after the controls were imposed).” Other analysts say that while the withdrawals pose no great risk to the banking system, they do reduce liquidity and tend to push interest rates up, which could eventually cool consumer spending in one of Latin America’s fastest-growing economies. President Cristina Fernandez’s government late last month ordered that all foreign currency purchases be pre-approved by the tax agency, in a bid to slow demand for greenbacks, protect foreign reserves and fight tax evasion. Argentines often seek refuge in the dollar and many investors, big and small, expected the government to allow the peso currency to depreciate at a faster rate in the aftermath of the Oct. 23 election, in which Fernandez won a second term. The central bank spent hundreds of millions of dollars on the formal foreign exchange market to stem the peso’s slide before the election. Its reserves have fallen to about $46 billion from a record of $52.7 billion in January.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today argentina kept taking dollars out of banks Arab Today, arab today argentina kept taking dollars out of banks

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today argentina kept taking dollars out of banks Arab Today, arab today argentina kept taking dollars out of banks

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday