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ECONOMY | 30-08-2019 13:56

Peso trading at 61 per dollar, country risk soars to highest since 2005

Peso weakens against the dollar by roughly a peso, trading at 57 pesos to buy the US currency and 61 pesos to sell at Banco Nación. 

Argentina's 'country risk' rating soared this morning by 176 points to reach 2,447 at noon – its highest level since 2005.

The indicator, based on the JP Morgan Emerging Market Bond Index (EMBI), tracks the performance of bonds in emerging markets.

Meanwhile, the leading assets on the Buenos Aires Stock Exchange registered an advance of 1.53 percent.

Meanwhile, the peso weakened against the dollar by roughly a peso, trading at 57 pesos to buy the US currency and 61 pesos to sell at Banco Nación. Yesterday, it had closed at an average of 56.15 pesos per greenback and 60.30 pesos to sell.

Foreign-currency reserves have plunged US$10 billion over the past month, including a decline of about US$900 million Thursday, to less than US$60 billion now.

– TIMES/NA

 

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