(Reuters) -Argentine Economy Minister Luis Caputo told investors in New York the country plans to repurchase sovereign bonds and begin building foreign reserves, even as the peso trades within its band, Bloomberg News reported on Saturday, citing people with direct knowledge of the matter.

President Javier Milei does not intend to float Argentina’s currency, but will keep it trading within established bands, Caputo said in a meeting with about 40 investors hosted by JPMorgan Chase on Friday, the report said.

Caputo may accelerate the pace of band adjustments to 1.5% per month, depending on inflation and peso demand, the report said, adding that currently the upper and lower limits of the trading range are adjusted by 1% a month, allowing the peso to gradually weaken.

Caputo plans to pre

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