Argentine banks raise position in one-day notes

Lenders rolled over only 1.8% of the 1.6 trillion pesos of the so-called Leliqs at an auction on Tuesday, sources said. — Bloomberg

BUENOS AIRES: Argentina’s banks are fleeing central bank notes meant to absorb pesos from the economy, rolling over the lowest amount on record of the instruments in the lead up to the inauguration of President-elect Javier Milei.

Lenders rolled over only 1.8% of the 1.6 trillion pesos of the so-called Leliqs at an auction on Tuesday, according to people with direct knowledge of the matter.