Nov 29, 03:18 AM

Argentina's Central Bank Buys $227 Million in Dollars; Reserves Exceed $31 Billion; China's PBOC Injects 800 Billion Yuan

Argentina's Central Bank (BCRA) reported a significant purchase of U.S. dollars, acquiring $227 million on November 27, marking the second-largest purchase in November. This transaction contributed to an increase in the country's gross international reserves, which surpassed $31 billion for the first time since June. However, net reserves fell to -$8.6 billion following the purchase of dollars for debt repayment. In China, the People's Bank of China (PBOC) conducted substantial open market operations in November, injecting a total of 800 billion yuan through reverse repos. Additionally, the PBOC made net purchases of government bonds worth 200 billion yuan (approximately $27.8 billion). The Chinese stock markets showed positive movement, with the Shenzhen Component Index and Chinext Index rising more than 2% intraday, while the Shanghai Composite Index increased by 1.4%. Trading volumes on the Shanghai and Shenzhen exchanges exceeded 1 trillion yuan for the 43rd consecutive day.