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Argentina’s dollar deposits from individuals and non-government businesses fell to the lowest since April 2010 as President Cristina Fernandez de Kirchner tightened controls on the exchange market.
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Argentina is printing pesos at the fastest pace in at least four months, fueling inflation that economists estimate is climbing to about 30 percent.
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President Cristina Fernandez de Kirchner won Congressional backing to seize YPF SA, the country’s biggest energy company, from Spain’s Repsol YPF SA as the government seeks to boost oil production and cut imports.
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President Cristina Fernandez de Kirchner’s surprise takeover of YPF SA is likely to boost her flagging popularity as Argentines rally behind the re- nationalization of the country’s biggest oil producer.
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Argentina’s central bank is selling a record amount of notes linked to deposit rates to curb money supply growth and inflation.
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Argentina’s central bank is tripling purchases of U.S. dollars in 2010, pushing them to the highest in four years to weaken the peso and bolster foreign reserves.
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Interest rates on Argentine bank deposits are climbing to the highest level in nine months as the central bank steps up sales of short-term notes to absorb pesos and contain inflation.
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Argentina’s overnight loan rate between banks is rising the most in two years as inflation quickens and speculation grows that lenders are facing a shortage of peso bills.
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Argentina’s trade surplus fell 58 percent in January to $513 million from the same month a year earlier as imports rose more than twice as fast as exports.
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Yields on Argentine three-month notes are poised to fall after declining to a 10-week low as the central bank prints pesos faster than anticipated.
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