January 28, 2019 / 2:07 PM / 3 months ago

Argentine cenbank buys another $50 mln to control peso strength

BUENOS AIRES, Jan 28 (Reuters) - Argentina’s central bank bought $50 million in the foreign exchange market at an average 37.1250 pesos per dollar on Monday, the latest step in its campaign to keep the currency in a trading band agreed with the International Monetary Fund.

The bank has spent $440 million on interventions so far this month. It has agreed with the IMF to buy dollars when the peso strengthens beyond a band that on Monday was 37.787 to 48.901 per greenback.

Reporting by Walter Bianchi, writing by Hugh Bronstein

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