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Argentina central bank sells $413 million in spot market

BUENOS AIRES (Reuters) - Argentina’s central bank sold $413 million in the spot currency market on Friday, the monetary authority said in a statement, marking its sixth intervention in the past two weeks as the peso currency has depreciated rapidly against the U.S. dollar.

The peso ARS=RASL surged after the intervention, to close at 20.17 per dollar. It fell as low as 20.39 earlier in the session, close to its record low of 20.45 on March 8.

The central bank has sold more than $900 million since March 5, and has warned that the depreciation could harm efforts to cut inflation.

Reporting by Luc Cohen, Editing by Rosalba O’Brien

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