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MercoPress, en Español

Montevideo, April 25th 2024 - 11:24 UTC

Tag: Argentine peso

  • Thursday, May 24th 2018 - 08:44 UTC

    Dollar/Peso challenge: Argentina offers to swap one-month Lebacs for long term papers

    “It’s worthwhile to make a small effort to re-profile Lebacs to avoid having such a high concentration of maturities in the short term,” Federico Sturzenegger said

    Argentina’s central bank moved on Wednesday to improve its debt profile by offering to swap some of its one-month Lebac securities for paper of longer duration, the bank said in a statement.

  • Wednesday, May 9th 2018 - 20:19 UTC

    US Dollar rises: Uruguay behind Argentina

    The exchange houses in the center of Montevideo today marked up to 31.70 Uruguayan pesos per dollar, a rise of 2.08% compared to Monday - the highest in five years. Photo: Sebastián Astorga

    After several days up in Argentina, the devaluation of the Argentine peso and the rise of the US dollar have had some impact on the other side of the River Plate, where the exchange houses of downtown Montevideo marked on Wednesday the value of the currency up to 31,70 Uruguayan pesos per dollar, a rise of 2.08% compared to Monday —the highest in five years—. For the Uruguayan government, the country follows the global trend and calls for calm, beyond the noise generated in Argentina, which is beginning a dialogue between the Finance Minister, Nicolás Dujovne, and the International Monetary Fund (IMF) in Washington.

  • Tuesday, May 8th 2018 - 06:57 UTC

    Argentine Peso: the worst of the storm seems to be over...for the time being

    “The Peso may strengthen or weaken ... the idea is that there be little volatility,” Treasury Minister Nicolas Dujovne said on local television on Sunday night

    The Argentine Peso closed slightly weaker on Monday, though analysts remained optimistic the government and central bank had curbed a run on the currency with a massive rate hike and lower fiscal deficit target last week. . The local currency opened stronger on Monday but closed down 0.41%, at 21.97 per U.S. dollar. The Merval stock index ended down 3.43% and traders said investors remained cautious.

  • Monday, May 7th 2018 - 08:29 UTC

    Argentina and China among the most vulnerable markets, says IIF

    Experts reevaluated potential changes in investors’ interest in assets amidst the strengthening of the U.S. dollar, growth of interest rates and trade disputes.

    The markets of China, Ukraine, Argentina, South Africa and Turkey are the most vulnerable among all developing countries in terms of financing needs, reserve adequacy, asset valuation, institutional quality and trade resilience, according to a review by the analysts of the Institute of International Finance (IIF).

  • Friday, May 4th 2018 - 09:00 UTC

    Argentine Peso tumbles 7.83% to US dollar; central bank raises rate to 33.25%

    The Peso tumbled 7.83% to 23 per U.S. dollar. It had hit 21.2 (23,5 in some banks) to the greenback on Wednesday. The central bank hiked the rate to 30.25% from 27.25% on Friday.

    Argentina’s central bank raised its benchmark interest rate by 300 basis points to 33.25% percent on Thursday, but the second steep rate increase in less than a week failed to stop the country’s peso currency from swooning to a record low. The local currency tumbled 7.83% to 23 per U.S. dollar. It had hit 21.2 to the greenback on Wednesday, the first trading day due to a holiday after the bank hiked the rate to 30.25% from 27.25% on Friday.

  • Thursday, May 3rd 2018 - 08:39 UTC

    Lack of investor confidence sees the Argentine Peso fall 3.11% against the dollar

    The central bank sold about US$ 400 million in the foreign exchange market as of early Wednesday afternoon, traders said

    Argentina’s peso currency closed down 3.11% on Wednesday at an all-time low of 21.2 per U.S. dollar, even as the central bank continued selling dollars to try to halt the slide of the local currency, traders said. The currency’s sustained weakening showed a lack of investor confidence in Latin America’s third largest economy, which is blighted by one of the world’s highest inflation rates.

  • Wednesday, March 14th 2018 - 09:15 UTC

    Argentina central bank leaves basic rate unchanged to combat inflation

    The Central Bank confirmed its policy of supporting the Argentine Peso with occasional interventions in the money exchange market

    Argentina's central bank left the basic interest rate unchanged at 27.5%, a clear signal that inflation remains the main challenge of the country's monetary policy. The bank also revealed that last week it intervened in the local market with 400 million dollars to keep the US dollar in the range of 20/20,50 Pesos to the greenback.

  • Thursday, October 29th 2015 - 06:39 UTC

    Argentina's dollar clamp intensifies following on Sunday's election results

    Currency market traders said the central bank called commercial banks with a verbal directive to slash daily limit on dollars' transfers to $75,000

    Argentina on Tuesday halved the daily amount of dollars companies can transfer abroad without authorization, currency traders said, while the country's insurance regulator put new limits on the amount of hard currency assets insurers can hold.

  • Saturday, September 26th 2015 - 09:43 UTC

    US dollar in Argentina at an all time record of 16.08 Pesos

    Polls show Buenos Aires governor Daniel Scioli ahead of his top rival, Buenos Aires Mayor Mauricio Macri, but yet unable to avoid a runoff a month later

    The unofficial or 'blue' US dollar exchange rate in Argentina hit an all-time high of 16.08 Pesos at the end of trading on Friday, due in part to policy uncertainty ahead of the October 25 presidential election, according to local market sources.

  • Friday, October 31st 2014 - 08:08 UTC

    Chinese relief for Argentina: central banks activate currency-swap

    The Central Bank of Argentina said the Yuan “is on a path to becoming one of the major global reserve currencies.”

    The central banks of Argentina and China on Thursday activated a bilateral currency-swap agreement, which meant that the Argentine central bank received an initial tranche of Yuan equivalent to 814 million dollars.