September 18, 2018 / 9:58 PM / in 3 months

Argentine central bank says sells $261 mln in forex market

BUENOS AIRES, Sept 18 (Reuters) - Argentina’s central bank sold $261 million in reserves on Tuesday, the monetary authority said in a statement announcing its latest intervention in the foreign exchange market aimed at easing the fall of the local currency.

The peso fell 0.58 percent on Tuesday to 39.80 per dollar.

Since the start of the year the currency has lost more than 53 percent of its value against the greenback as investors grew concerned about Argentina’s ability to pay its debts and higher U.S. interest rates siphoned investment off from emerging markets worldwide. (Reporting by Walter Bianchi, writing by Hugh Bronstein; Editing by Tom Brown)

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