Argentina Central Bank will start repo auctions on Friday
Published August 17th, 2007
Argentina’s central bank announced it will began auctions of repos on Friday to inject liquidity into the local money market, after interbank lending rates in the country shot up on Thursday amid a global rush into cash and other liquid assets.
The interest rate for the repurchase agreements will be based on the average bank rate for deposits of more than a million pesos at 30 to 35 days, or BADLAR, plus a premium, the bank said in a statement.
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