Following months of steady devaluation of the Argentine peso against the US dollar, the government of President Mauricio Macri made yet another move Wednesday to stabilise the exchange rate, which nevertheless reversed its downward trend of the past week, rising 14 cents from Tuesday to close at $ 28.19 / US$ 1.
The Treasury made a combined issuance of 2,152 million dollars of debt, with 1,638 million in dual currency bonds with a maturity of 19 months and 514 million dollars in US dollars at 210 and 378 days.
The Ministry of Finance said in a statement that dual currency bonds (denominated in dollars but paid in Argentine pesos) were awarded at a 2.35% monthly interest rate, and purchase orders were received, worth 2,144 million dollars.
As for Treasury bills in dollars, two issues were made, one at 378 days and an annual nominal yield of 5.50%, of which 294 million of the 297 million requested by investors were awarded.
The other issuance was of 210-day bills and an annual nominal yield of 4%, which received purchase orders for 257 million dollars, of which 220 million were awarded.
The devaluation trend was replicated in other countries of the region. In Brazil, the real went down 1.7%, in Mexico by 0.6% and in Uruguay by 0.3%.