Argentine stock market climbs 6% and the exchange market operates cautiously

Friday, May 11th 2018 - 06:29 UTC

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Argentine equities rallied on Thursday, while the country's peso currency was stable, as the central bank sold foreign currency reserves in the spot market for the first time since the country announced it was seeking financing from the IMF. Read full article

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Enrique Massot
A short-lived truce, MP. Not worth a story.

Here's the story one day after, May 11.

The announcement of negotiations with the IMF, which revised Argentina's growth predictions to a modest 2 per cent for 2018 (half a point lower than last October) the dollar continued to climb on Friday.

After reaching as much as 25 pesos en some banks, it closed at 23.79 pesos, cumulating a 7 per cent hike for the week.

Meanwhile, the Central Bank needs to renew US$ 30 billion on Tuesday, May 15. If it does not succeed, the Cronista Comercial reported JP Morgan said, the peso could face “a disorder.”

Not a good situation for most Argentines.

https://www.cronista.com/finanzasmercados/Advertencia-del-JP-Morgan-sobre-el-vencimiento-de-Lebac-del-martes-20180510-0093.html
May 12th, 2018 - 03:53 am - Link - Report abuse -1
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