Argentina's central bank hikes interest rate to 118 pct

STORY: Argentina's central bank hikes interest rate to 118 pct DATELINE: Aug. 15, 2023 LENGTH: 00:02:36 LOCATION: Buenos Aires CATEGORY: ECONOMY SHOTLIST: 1. various of markets and stores in Argentina STORYLINE: Argentina's central bank on Monday increased the benchmark interest rate by 21 percentage points to 118 percent. The move aims to anchor exchange expectations and boost positive real returns on investments in local currency, among other purposes, according to the Central Bank of the Argentine Republic (BCRA). In the face of high inflation, the central bank raised its benchmark interest rates five times this year. The BCRA will continue to monitor the evolution of the general level of prices, the dynamics of the financial and exchange markets and of the monetary aggregates for the purpose of calibrating its rate policy, it said. Xinhua News Agency correspondents reporting from Buenos Aires. (XHTV)

Incorporation of yuan to benefit both parties: Argentina's business leader

STORY: Incorporation of yuan to benefit both parties: Argentina's business leader DATELINE: July 14, 2023 LENGTH: 00:01:36 LOCATION: Buenos Aires CATEGORY: ECONOMY SHOTLIST: 1. various of street views and ICBC in Argentina 2. SOUNDBITE 1 (Spanish): TOMAS DE PABLOS, President of Liex S.A. 3. SOUNDBITE 1 (Spanish): TOMAS DE PABLOS, President of Liex S.A. STORYLINE: Argentina has initiated the opening of bank accounts in Chinese currency renminbi, or the yuan. Liex S.A., a subsidiary of the Chinese firm Zijin Mining, became the first client of ICBC Bank Argentina branch to open an account in yuan. It came after the Central Bank of Argentina (BCRA) incorporated the Chinese yuan as an eligible currency for deposits in savings and current accounts at the end of June. SOUNDBITE 1 (Spanish): TOMAS DE PABLOS, President of Liex S.A. "We are very pleased to be one of the first customers to be able to operate through currency exchange using yuan; after a visit by representatives of the Argentine government to China