Wednesday, August 10, 2011

Argentine Central Bank sells 80 million greenbacks ...but the dollar still goes up to $4.33

(from Clarín.com) "The global turmoil and the sharp fall of the Buenos Aires Stock Exchange on Monday continued to impact on the exchange market yesterday. Global financial instability fueled jitters small savers and investors, who sought shelter in the U.S. currency. After selling a record $ 230 million on Monday, the Central Bank yesterday returned to part with $ 80 million to meet demand that does not stop...

...The rise was not reflected in the official price of the dollar, which remained at $ 4.185. 

...Demand for dollars sold on the parallel market caused the price to rise from $4.30 to $4.33."

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