The dollar has turned a bad day for emerging markets and the rate has fallen to 71%

The dollar started the week with a 30-cent lead, although it rose to 70 at the start of a difficult cycle for emerging markets due to the resurgence of the trade crisis between China and the United States. The Argentine peso is thus depreciated by 0.68%.

This did not, however, prevent the Central Bank (BCRA) from validating a further decline in the key rate, which stood at 71.74%, compared with 72.05% previously.

The wholesale dollar closed at $ 45.10 at the MULC, 30 cents higher than Friday's close, though it soared 70 cents at first.

The retail dollar showed similar behavior on the screens of Banco Nacion (BNA) where it ended at $ 46.10, about 10 cents more. The average between the banks is that the plant sets the price of the ticket in the $ 46.39, 35 cents more.

The blue dollar was placed at $ 46.20.

"Global markets have been negatively affected by the trade dispute between China and the United States, which has again occurred in Argentina," said one operator.

Matías Roig, Director of Portfolio Personal Inversiones (PPI) He felt that it was "logical to hope that the markets would follow with some anxiety the information about the trade crisis".

"To the extent that the two powers are increasing tension, the chances of increased protectionism are increasing, which would lead to a fall in global trade and, as a result, consumption and investment levels, affecting growth. and prices, "a point.

Total cash transactions totaled US $ 689.443 million, with US $ 1 million in forward market transactions.

As was the case since mid-April, the plant auctioned 60 million US dollars for the account and the Treasury. It was two tranches of 30 million US dollars, but if there remained 3 million US dollars following the second call for tenders, a third was created with this surplus. The latter was priced at $ 45.10 and a minimum value of $ 45.10 per unit.

AT Fernando Camusso, by Rafaela CapitalIn view of this international situation, "the BCRA must imperiously distinguish between disruptive movements and those that do not".

"If you try to bet on the dollar, you buy a problem as soon as possible, you obviously can not let the currency become strong, that's why it's so difficult, I still think you're more concerned about the level only by volatility and this is a mistake, especially for what is seen in futures market interventions, "he badyzed.

The bad day for emerging countries has been generalized. Of the 24 emerging currencies tracked by the Bloomberg international agency, none ended the day with positive numbers. The biggest loser was the Turkish lira, with a depreciation of 1.25% that day, while rumors were that the government would take some of the reserves of the Central Bank.