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Peña Ratifies the Free Flotation of the Dollar and Discards Intervention in the Exchange Market
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President Santiago Peña ruled out intervening to sustain the dollar’s quote and defended that the exchange rate be adjusted to supply and demand. In parallel, forward and NDF operations show how companies and financial institutions agree securities for future operations and seek to cover themselves against exchange rate fluctuations. Peña’s entry confirms the free floating of the dollar and discards intervention in the foreign exchange market wa…
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