BUENOS AIRES, Dec 9 (Reuters) - Argentina’s central bank bought $200 million net in the South American country’s currency market on Tuesday, foreign exchange traders said, by far one of the largest purchases in the past year.
Traders said the regulator was using the purchase to bolster its under-pressure foreign reserves.
The purchase barely impacted the official exchange rate for the Argentine peso, which fell 0.03 percent to 8.5525 per dollar.
Market participants said the central bank typically buys between $10 and $30 million in a single session but has been using unorthodox methods to protect reserves that are close to 8-year lows. (Reporting by Jorge Otaola and Walter Bianchi; Writing by Sarah Marsh; Editing by Richard Lough and Diane Craft)