February 5, 2019 / 3:30 PM / in 2 months

Argentina cenbank buys $75 mln for second day to rein in peso

BUENOS AIRES, Feb 5 (Reuters) - Argentina’s central bank bought a total of $75 million in the foreign exchange market on Tuesday, the bank said, the second day in a row it has hit a recently increased maximum cap for dollar buying to help rein in the local peso currency.

The move comes after the bank on Friday raised the daily limit for its dollar purchases to $75 million from a previous cap of $50 million, as it looks to keep the peso within a non-intervention band agreed with the International Monetary Fund. (Reporting by Walter Bianchi and Hernan Nessi; Writing by Adam Jourdan Editing by Chizu Nomiyama)

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