Country risk reached 2,533 points | Chronic

The Buenos Aires stock market rose 2.60% Friday, but lost 41.49% during the month, while the dollar closed at $ 62,035 this Friday. It rose 37.80% in August Argentine bonds

"Today we are witnessing another complicated day for the local market", SBS Group said in its daily report.

"The day was full of doubts and expectations of the regulators' definitions and signals, and in this context, the S & P Merval closed in green with an increase of 2.60% (conditioned by the in August, the leading indicator fell by 41.49% (-56.87% in dollars), leaving behind one of the worst months of our local market ", added from SBS Group.

In the same sense, it was expressed Eduardo Fernandez of the Rava Stock Exchange which pointed out that the "deterioration" advanced local badets "Because of the enormous uncertainty prevailing in the country on the political and economic situation".

"At the government's announcements beginning the process of debt restructuring, a new and dangerous measure has been added.The BCRA has decided to bankrupt banks in order to generate profits abroad"Izzo explained and explained that after the announcement of the news, the Argentine ADR had worsened their fall after the announcement of the establishment of the plant.

"That was the case of GGAL, which closed in dollars with a skid of 8.91%", he said.

In the local market, the shares that lost the most in August were the Transportadora de Gas del Norte, down 68.19%; Transener made it to 63.16%; Edenor 59.04%; The center of Puerto 57.97% and Banco Galicia made it 57.33%.

Only Aluar closed on a positive note with an advance of 18.64% in August.

In the fixed income segment, "Slices of dollars and pesos worked very well during the day, recording decreases of 55% on average for both tranches, with no positive change"said the SBS Group report.

"The sovereign bond market has collapsed, especially the part with a duration of less than 4. This week, the decline was between 20% and 30%, while it has dropped by 55% on average over the month ", coincided with Personal Portfolio.

The poor performance of bonds led to a sharp rise in country risk which closed Friday at 2,533 points, with an increase of 223% during the month.

The foreign exchange market climbed nearly two pesos that day to $ 62,035 per dollar for sale to the public, while in the wholesale segment it closed at $ 59.51, that's 1.61 pesos more than the fence yesterday.

The rise occurred despite the fact that the rate market reached a new high today, reaching 83.264%, or 505 basis points over last Thursday.

Due to the end-of-month deadlines, Central Bank sales have not calmed the foreign exchange market.

"This time, the sale reached 387 million US dollars and, during the week, more than one billion US dollars left the central coffers.For some reason, the Fitch rating agency has placed our country in selective default "Izzo added.