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0 pointsmikeash12y ago0 comments

That doesn't mean it makes sense. $47.5 million/day being the same as $8 million/hour implies that there are 5.9375 hours per day.

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3 comments · 2 top-level

contingencies12y ago· 1 in thread

8 hours a day minus an hour for lunch is 7 hours .. perhaps exchange operations close an before the daily close of business? Wouldn't surprise me, and that's ~5.9375 (6 to be precise). Then of course there's bank holidays and weekends...

marianov12y ago

The goverment has declared an unprecedented number of holidays last year (i.e. moving holidays from weekends to mondays, declaring "bridge" holidays when a holiday happens on tuesday or thursday, 2012 had 5 more than 2011). 2013 will have 17 bank holidays.

laumac12y ago

You're right, it doesn't make sense. We're adjusting our numbers to what the central bank has actually reported here: http://www.bcra.gov.ar

Reserves at 31 Dec were US$43.29b and at 18 Oct were US$34.25 = total loss of US$9.04b. Since there has been 291 actual days in the year up to 18 Oct, the daily loss is $31.08m.

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