"Chinese Effect": this is how the dollar trades in major Argentine banks

The trade war between the United States and China, and in particular the decision of the second country to devalue the yuan, has weakened the currencies of emerging countries by accentuating their depreciation against the dollar, while the country's risk of foreign exchange has risen. Argentina increases by 7% up to 890 basis points.

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he dollar today quotes in Argentina to $ 46,547 according to the average of the Central Bank, which implied an increase of nearly 2% compared to last Friday. Something similar happened in Brazil with the real one and in Chile with the peso.

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Meanwhile, in the Mendoza houses of exchange, the US currency is trading for the sale at a value of $ 47whereas for the purchase is located at $ 45.60.

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The price of the dollar in the main banks

1- Nation: 46,350

2- Itau: 46 400

3- Patagonia: 46,400

4- Santander: 46,400

5- Supervision: 46,500

6- City: 46,550

7- HSBC: 46,550

8- BBVA: 46,730

9- Galicia: 46,800

10- ICBC: 46,900

European stock markets down

European stock markets fell to 2.5%, due to China's recent decision to devalue its currency, doubling its fight against the US, which threatened to raise tariffs.

The London Footsie was the most affected with a 2.5% drop, while the CAC Paris index lost 2.19%.

In Spain, the Ibex 35 index decreased by 1.35%, while the Frankfurt DAX index decreased by 1.8%.

Asian stock markets also felt the effects of the devaluation of the yuan.

This morning, the Japanese Nikkei lost 4.25%, although the Chinese most affected was the Hang Seng, which lost 2.85%.

While the Standard & Poor's 200 Asian and MSCI Asia Pacific indices fell 1.9% and 1.36%, respectively.