BUENOS AIRES, June 15 (Reuters) - Argentina’s Treasury and Finance Minister Nicolas Dujovne said on Friday the central bank could intervene in the spot market if needed under the country’s agreement with the International Monetary Fund and that the central bank would start reducing short-term Lebac securities that have increased volatility.
“We have ratified it with the Fund. We have a floating system in which the central bank can intervene,” Dujovne told a news conference a day after Central Bank President Federico Sturzenegger resigned after the peso weakened over six percent in a day.
Former Finance Minister Luis Caputo is taking over the central bank presidency and Dujovne will serve as finance minister as well as treasury minister. (Reporting by Caroline Stauffer Editing by Chizu Nomiyama)