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Montevideo, January 16th 2019 - 06:00 UTC

Tag: Argentine peso

  • Thursday, December 6th 2018 - 08:45 UTC

    Argentine manufacturing and construction declines during October

    The manufacturing decline was led by sharp falls in the auto industry, textiles, metals, rubber and plastic production, and chemicals

    Manufacturing in Argentina fell 6.8% in October year on year, while construction declined 3.7%, and in the first ten months of this year 2.5% and 4.9% respectively according to the Indec statistics bureau report. Firms were hit hard by a contraction in economic activity and the devaluation of the Peso against the US dollar.

  • Friday, November 23rd 2018 - 09:45 UTC

    Argentina: waiting for a strong agriculture recovery to help end recession

    Food, beverage and tobacco in October were down 2.4% in twelve months, which registered a slowdown in the contraction pace

    The industrial production in Argentina dropped 4.8% in October compared to the same period a year ago, accumulating a seven-month consecutive slide, according to the Center of Economic Studies from Orlando Ferreres. Between January and October manufacturing activity registers a 3.5% contraction relative to the same period in 2017.

  • Wednesday, November 21st 2018 - 17:49 UTC

    Aluminum producer Aluar profits 54% up thanks to devaluation of Argentine peso

    Aluar “sales grew as a result of the rise in the exchange rate, the international rise in the price of aluminum and to the number of shipments.”

    The aluminum producer Aluar will distribute dividends among its shareholders for $ 2,884 billion (79.71 million US dollars) as a result of an increase in semiannual profits of 54.5%, the company reported to Argentina's stock exchange regulator Comisión Nacional de Valores (CNV), which was due mainly to the peso devaluation.

  • Wednesday, October 24th 2018 - 08:40 UTC

    Argentine Peso slips on Tuesday; central bank sells debt notes at a rate of 71.39%

    The central bank sold 110.929bn pesos (about US$ 3 billion) worth of the seven-day notes on Tuesday with an average annual interest rate of 71.392%, traders said

    Argentina’s peso slipped on Tuesday, a day after the central bank’s new governor reassured the public that its approach to taming the country’s rocky economy would be sustainable over the medium term. The peso closed 0.46% weaker at 36.65 per U.S. dollar. The currency has fallen 0.30% against the dollar this week, although it has climbed 12.63% since the beginning of the month.

  • Thursday, October 11th 2018 - 08:45 UTC

    Macri administration reverses latest cooking gas price increase following public outrage

    According to a decisive survey, some 75% of residents in the metropolitan area of Buenos Aires considered gas prices “too high or non-payable”

    Argentina will pay for unforeseen increases in the cost of cooking gas following public outrage and opposition in Congress to stymie the plan which would have seen consumers paying increased gas prices in 24 installments from January 2019.

  • Friday, October 5th 2018 - 08:36 UTC

    Argentine Peso slips on Thursday on prospects of higher US interest rates

    The peso shed 1.85% to close at 38.4 per dollar after having gained 9.58% over the previous three days under a freshly-renegotiated IMF deal

    Argentina’s Peso fell on Thursday, pressured by the recession-hit country’s dismal inflation outlook and higher U.S. interest rates that have pushed capital away from riskier emerging markets and toward the greenback, local traders said. The peso shed 1.85% to close at 38.4 per dollar after having gained 9.58% over the previous three days under a freshly-renegotiated International Monetary Fund financing deal that calls for tougher fiscal and monetary policy measures.

  • Thursday, October 4th 2018 - 08:24 UTC

    Argentine Peso strengthens for third day running supported by high interest rate for short term debt

    The Argentine peso closed 1.22% stronger at 37.69 per U.S. dollar on Wednesday, bringing this week’s gains to 9.58%.

    Argentina’s peso rallied for a third straight day on Wednesday, after high-interest short-term debt issued by the central bank soaked up liquidity, a strategy that has raised concern about the sustainability of the country’s program.

  • Tuesday, October 2nd 2018 - 08:21 UTC

    Argentine Peso rises 4% after central bank sells seven-day notes paying 72%

    The Argentine central bank sold about 71.1 billion pesos worth of seven-day “Leliq” notes, above market expectations, and at an interest rate of 72%.

    The he Argentine peso climbed more than 4% on Monday trading on the back of a debt sale by the central bank aimed at mopping up excess liquidity and signs that the International Monetary Fund (IMF) is solidly behind the administration of president Mauricio Macri.

  • Monday, October 1st 2018 - 08:56 UTC

    Beijing currency swap support for Argentina

    “A US$ 9 billion expansion of the ‘swap’ with China is practically closed,” Guido Sandleris was quoted saying in an interview with La Nacion published on Sunday

    Argentina has “nearly closed” a new currency swap deal with China that will add the equivalent of US$ 9 billion to the South American country’s reserves, the central bank said on Sunday. Argentina and China first agreed to a swap program in 2009 to boost the South American country’s dwindling reserves under former President Cristina Fernandez. Last year, the center-right government of President Mauricio Macri and China agreed to extend the program for three more years.

  • Friday, September 28th 2018 - 08:58 UTC

    Brazilian currency strengthens below 4 to the dollar: first time in five weeks

    The Real closed at 3.99 to the US dollar just two weeks after hitting a record low of almost 4.2 to the dollar -- it's lost around 17% since the start of the year

    The Brazilian currency dipped under four Real to the dollar for the first time in five weeks at close on Thursday as the markets reacted favorably to the emergence of two clear presidential election frontrunners. The Real closed at 3.99 to the US dollar just two weeks after hitting a record low of almost 4.2 to the dollar -- it's lost around 17% since the start of the year.