Argentina sells $302 mln in reserves to support peso, breaking IMF guideline
(WorldNews Argentina)

BUENOS AIRES — Argentina’s central bank on Tuesday exceeded for the first time a guideline on reserve sales agreed as part of its $57 billion standby agreement with the International Monetary Fund, selling $302 million in the foreign exchange market, traders said. Argentina’s agreement with the IMF limits the central bank to $250 million in reserve sales daily, set when the exchange rate was above 51.5 pesos per dollar, with the option to intervene further to “counteract episodes of excessive...