BUENOS AIRES, April 11 (Reuters) - Argentina's central
bank broke a 23-day streak of selling off dollar reserves on
Tuesday, though only just, as a new "soy dollar" preferential
exchange rate helped spur grains trading and bring in some more
foreign currency.
Traders estimated that the bank ended the day with net
purchases of around $2 million, after it sold $515 million so
far this month, and more than $3 billion so far this year.
The slight net inflows come after the government re-launched
a so-called soy dollar plan to give exporters a preferential
exchange rate when converting dollar revenues back into pesos, a
measure aimed at rebuilding depleted central bank reserves.
The scheme officially started on Monday, though only really
began to impact trades on Tuesday after the government laid out
some important technical details of the program.
(Reporting by Walter Bianchi, Writing by Isabel Woodford;
Editing by Jamie Freed)
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