The National Securities Commission (CNV) analyze the possibility of enable the negotiation of financial instruments with yuan in the local market, official sources advanced to Télam.
“The CNV analyzes with the markets the possibility of enabling the negotiation of financial instruments with yuan”, the sources said. This is part of the fact that after the negotiations and agreements carried out by the Minister of Economy, Sergio Massain China during your trip to the Asian country, more yuan is available in the local market.
Last weekend, in statements to Télam, the general director of Customs, William Michelhighlighted the use of Chinese yuan in import operations instead of US dollars, an option which he considered “significant relief on reserves” of the Central Bank and which up to now registers operations in the approval process for the equivalent of US$2,080 million.
Massa, during his visit to China two weeks ago, renewed the currency swap for 130,000 million yuan, equivalent to a total of US$19,000 million, for a term of three years.
Within this framework, the signing of the currency agreement with the People’s Bank of China (PBoC, the monetary entity equivalent to the BCRA) provides for a expansion of freely available funds of US$5,000 million (35,000 million yuan).
That figure is added to the US$5 billion for that use that were already in force since the previous currency agreement, celebrated in the year 2020, for which Argentina will have as of today u$s10,000 million to, among other needs, avoid the use of dollars in commercial operations linked to the Chinese market.
Source: Ambito
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