The dollar rises 70 cents and still exceeds 46 pesos in the city of Buenos Aires

The trade tensions between the United States and China led to sharp declines in the stock markets abroad and the depreciation of emerging currencies.

In this context, the dollar up 1.5% in the banks of downtown Buenos Aires. In the branches of National Bank rises 70 cents, to $ 46.10 for sale.

In the market wholesaler is operated at 45.10 pesos.

A new escalating trade tensions enter USA and China stimulates the depreciation of currencies in emerging countries. The US president announced Sunday, via a message on the social network Twitter, that his country would increase next Friday from 10% to 25% on China in the import goods when it is considered that the negotiations between the two powers are going too slowly.

In Brazil, the dollar rises three cents or 0.9% Monday, R $ 3.97. In China, the greenback rose 0.5% to 6.77 yuan to the dollar.

AT Luis Palma Cané, an expert from Fimades, was questioned about the actions of the North American general agent for having "acted impulsively", compulsive, without measuring the risks. We had a world economic situation with some deceleration, with an impact on foreign trade ".

"The The global geopolitical situation is hurting the economy, more than the macroeconomic fundamentals, and that does not help in any way, it is extremely negative: hit the emerging in general and in Argentina in particular, with the coins down and increase the rate in the United States, "said Palma Cané.

The BCRA released early last week the virtual abandonment of the non-intervention area of the foreign exchange market, which implies the possibility of intervening, with the consent of the Monetary Fund, even when the price of the currency is less than$ 51,448, roof of the band.

"This measure tends to strengthen the power of fire of the monetary authority in case of strong demand for foreign currency, which seems highly likely given the current electoral uncertainty, "he said. Ecolatin.

"However, even in the scenario in which Trade pressures manage to be controlled by BCRA, we do not expect a significant deceleration of the l & # 39; inflation", added a report from the consulting firm.

Nery Persichini, Investment Manager of GMA Capital, considered that "the MFIs, whose technicians are the free defenders of the floating, begin to understand the importance of exchange rate stability in almost bi-monetary economy and with dollar costs like Argentina. "

"A dollar that moves little is one necessary condition to anchor inflation expectations and a firmer brake on rising prices, "he added.

The foreign exchange market maintains this year a favorable disposition in commercial currency because of declining imports and rebounding agricultural sales.

Irina Moroni, Chief Economist of Fundación Capital, said that "the the trade balance would reach 7.5 billion USD in 2019. In accordance with the record harvest, a increase in exportswhile imports would contract in a context of economic recession. A project is projected decrease in the tourism deficitalthough the increase in interest payments eases the decline in the current account deficit to 2.3% of GDP.