BML 4.95 Increased By ▲ 0.04 (0.81%)
BOP 14.70 Increased By ▲ 0.08 (0.55%)
CNERGY 7.16 Increased By ▲ 0.08 (1.13%)
CPHL 92.15 Decreased By ▼ -2.78 (-2.93%)
DCL 12.86 Increased By ▲ 0.12 (0.94%)
DGKC 191.61 Increased By ▲ 2.64 (1.4%)
FCCL 51.75 Increased By ▲ 0.24 (0.47%)
FFL 17.47 Increased By ▲ 0.53 (3.13%)
GCIL 27.90 Increased By ▲ 0.15 (0.54%)
HUBC 162.30 Increased By ▲ 1.33 (0.83%)
KEL 5.01 Increased By ▲ 0.06 (1.21%)
KOSM 6.67 Increased By ▲ 0.42 (6.72%)
LOTCHEM 21.40 Decreased By ▼ -0.15 (-0.7%)
MLCF 96.50 Increased By ▲ 2.72 (2.9%)
NBP 151.51 Increased By ▲ 1.95 (1.3%)
PAEL 44.67 Decreased By ▼ -0.69 (-1.52%)
PIAHCLA 19.87 Increased By ▲ 0.08 (0.4%)
PIBTL 11.70 Increased By ▲ 0.85 (7.83%)
POWER 15.44 Increased By ▲ 0.44 (2.93%)
PPL 181.50 Increased By ▲ 1.37 (0.76%)
PREMA 41.00 Increased By ▲ 0.35 (0.86%)
PRL 31.50 Increased By ▲ 0.33 (1.06%)
PTC 23.29 Increased By ▲ 0.24 (1.04%)
SNGP 117.55 Increased By ▲ 0.62 (0.53%)
SSGC 41.00 Increased By ▲ 0.10 (0.24%)
TELE 8.24 Decreased By ▼ -0.10 (-1.2%)
TPLP 10.25 Increased By ▲ 0.42 (4.27%)
TREET 23.87 Increased By ▲ 0.11 (0.46%)
TRG 56.30 Increased By ▲ 0.24 (0.43%)
WTL 1.44 Increased By ▲ 0.01 (0.7%)
BR100 15,115 Increased By 28.1 (0.19%)
BR30 43,048 Increased By 175.6 (0.41%)
KSE100 149,493 Increased By 257.8 (0.17%)
KSE30 45,518 Increased By 11.6 (0.03%)

Cash-strapped Argentina has added more than $500 million to its foreign currency reserves by activating a currency swap agreement with China, the government said Tuesday. It was the second time since October 30 that Argentina's government has drawn on the $11 billion dollar currency swap agreement reached with China in July to shore up its foreign reserves.
The latest tranche lifted Argentina's foreign reserves to $28.785 billion, the government said. The first tranche was for $814 million. The government statement did not give the exact amount of Monday's swap, but a government source said "in total it represents $506 million for the monetary reserves."
Argentina's foreign reserves plunged earlier this year amid capital flight and growing economic uncertainties, prompting the government to tighten foreign currency controls. The South American country has been shut out of the international financial markets since a 2001 default, forcing it to rely on its dollar reserves to pay creditors. Attempts to restructure the debt have become entangled in a legal battle with hold-out creditors demanding repayment in full.

Copyright Agence France-Presse, 2014

Comments

Comments are closed.