Argentina’s Central Bank bought US$53 million on Tuesday, breaking a twelve-day selling streak in which the monetary authority depleted its reserves by US$1.7 billion. A source at the monetary authority told the Herald purchases were due to the agricultural sector liquidating its exports.

The country’s negotiations with the International Monetary Fund (IMF) over a new deal are driving financial market tensions. Argentina has requested US$20 billion, asking for over 40% of that to be disbursed immediately.

IMF Managing Director Kristalina Georgieva

© Buenos Aires Herald