BUENOS AIRES, (Reuters) – Police raided the trading desk of Argentina’s central bank yesterday after a prosecutor accused the monetary regulator’s president of directing the bank to sell U.S. dollar reserves at a rate below that on the international futures market.
The case stems from a complaint filed by two opposition lawmakers who said the price at which the bank sold the dollar futures – for fewer pesos than they fetch on the international market – constituted a serious financial loss for the state.
In a statement, the central bank denied any wrongdoing and blamed what it said was a politically motivated witch-hunt against the bank’s chief, Alejandro Vanoli, ahead of Sunday’s presidential run-off election.
“The bank reiterates that its interventions in the futures market have been absolutely transparent,” the central bank said. “The complaint … is unfounded and seeks only to make an impact on the election.”
