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The exchange rate of the dollar in Argentina It was trading lower on Friday as a result of selective dollar settlements, against a stabilized country risk of around 900 basis points and attractive interest rates, with investors being cautious about the recession l & # 39; inflation and political fears in an election year.
In addition, in the global context, United States stepped up its tariff trade war with China by increasing to 25% the prices imports from the Asian country for $ 200,000 million, in the middle of the last round of negotiations for a trade agreement.
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The interbank or wholesale dollar lost 0.73% to 44.97 Argentine pesos per greenback, at 1.30pm, Buenos Aires (4.30pm GMT), while it was stable in the brief informal place at 45.55 per unit.
The market has "investors who closely monitor the evolution of trade negotiations" between Americans and Chinese, broker Puente said, while analysts overlook two of the classic options of China having more privileges against them: devaluing the yuan or selling bonds United States.
The Argentine country risk – produced by the bank JP.Morgan – only increased by two units to 905 basis points, although it reached 894 points during the first hour. At the end of April, with another sharp depreciation of the peso, this indicator climbed to 1,012 points, the highest level since the beginning of February 2014.
OTC sovereign bonds posted a partial increase of 0.1% on average, following a 3.4% increase in the previous five cycles. The high interest rates guaranteed by the central bank play a key role in asset arbitrage, operators agree.
Representatives of the International Monetary Fund (MFIs) evaluates the government's management against the main objectives of the stand-by credit agreed in 2018, a dialogue that draws the market's attention less than six months before the presidential elections.
The Buenos Aires Stock Exchange has changed direction due to rapid profit-taking and the weakness of Wall Street, with a S & P Merval index that lost 1.14% to 33,729.60 units, after rising 4.26% in the previous two sessions.
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