Argentine central bank says sells $100mn in reserves

BUENOS AIRES: Argentina's central bank auctioned $100 million in reserves at an average price of 31.2592 pesos per dollar on Tuesday, the monetary authority said in a statement issued after the local currency touched an all-time low of 31.58 to the greenback.

The bank offered $300 million in the auction.

The peso has weakened 41 percent so far in 2018. Data published by the bank shows it has sold a total $12.78 billion in the foreign exchange market this year as monetary policymakers try to stabilize the currency.