What is the mechanism with which the Central Bank plans to buy reserves if the dollar reaches $1,000?

The monetary authority will avoid making auctions or tenders to intervene in the floor of the floating band. BCRA president Santiago Bausili will present the economic plan to the IMF this week

It offers to acquire about US$ 500 million at the lower price of the fleet band, while the currency continues to decline.

With the aim of starting to recomposition its reserves beyond the loans of agencies such as the International Monetary Fund (IMF), the Central Bank already offers to buy currencies at 1,000 pesos, the floor of the floating band fixed to leave the exchange rate. According to market operators, the BCRA offers in the market [...]

This is the floor of the band where the government announced that it would start buying foreign exchange. With the aim of starting to recomposition its reserves beyond the loans of agencies such as the International Monetary Fund (IMF), the Central Bank already offers to buy foreign exchange at 1,000 pesos, the floor of the floating band fixed to leave the currency exchange. According to market operators, the BCRA offers in the exchange market t…