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Macri turns China swap into dollars

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By The Buenos Aires Herald

Mauricio Macri’s government secured yesterday a major source of dollars to contain any potential run against the peso by converting yuans, from the currency swap deal signed with China last year, into greenbacks.

An announcement by the Central Bank confirmed yesterday that 20 billion yuans were exchanged for US$3.09 billion dollars, which will now be readily available in case the monetary authority needs to... (Read More)