LN: The Central Bank of Argentina ran out of US dollars

Photo: © Global Look Press/Michael Kappeler/dpa

LN: The Central Bank of Argentina ran out of US dollars

Photo: © Global Look Press/Michael Kappeler/dpa

The Central Bank of Argentina (BCRA) has run out of US dollars in cash. To improve the situation, the regulator had to use the deposits of depositors.

According to La Nationdue to the situation that has arisen, the Central Bank had to suspend payment operations until April 24.

“Situation with banknotes this is a problem that is becoming increasingly critical, causing difficulties in terms of logistics, capacity building and high financial costs,” – says the official letter signed by representatives of the Association of Banks of Argentina (ABA) and the Association of Argentine Banks (ADEBA).

The probable reason for the incident is the lack of the ability of the Central Bank not to destroy banknotes in poor condition, but to store them.

Recall that Argentina was in second place in the world ranking in terms of inflation with 102.5%. Russia took 50th place in it.

Source: Ren

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