The BCRA announces the signing of an agreement for exchange rate stabilization with the U.S. Department of the Treasury, for an amount of up to USD20 billion.
The objective of this agreement is to contribute to Argentina’s macroeconomic stability, with particular focus around preserving price stability and promoting sustainable economic growth.
The agreement sets forth the terms and conditions for the implementation of bilateral currency swap operations between the two parties. Such operations will allow the BCRA to expand its set of monetary and exchange rate policy instruments, including the liquidity of its international reserves, in accordance with the regulatory functions established in its Charter.
This agreement is part of a comprehensive strategy which reinforces Argentina’s monetary policy and enhances the BCRA’s capacity to respond to conditions that may result in episodes of volatility in the foreign exchange and capital markets.
