News of exchange

YPF leads Argentina corporate bond rout on new forex limits

16-09-2020 23:27 Corporate bonds from Argentina posted their biggest decline in six months on Wednesday as a new round of capital controls and government restrictions on access to dollars threatened to provoke a wave of defaults.

CURRENCY CONTROLS

Central Bank tightens currency controls as peso weakens

16-09-2020 10:29 Central Bank tightens conditions for the purchase of foreign currency, to prevent hoarding, preserve reserves and discourage demand for US dollars.

Bloomberg

Argentines are abandoning a trade that hedged currency risk

14-09-2020 16:02 Dollar-linked instruments in the local market are being abandoned amid speculation government will create a weaker parallel exchange rate while giving investors less favourable terms.

ECONOMIC POLICY

Central Bank optimistic over post-bond swap future

25-08-2020 19:20 Central Bank Governor Miguel Ángel Pesce says closure of the debt swap deal would relieve pressures on exchange markets and improve economic expectations.

DEBT RESTRUCTURING

Government files official debt offer with SEC, extends deadline

17-08-2020 14:50 Amended debt restructuring offer filed with US Securities and Exchange Commission, extending deadline for investors to accept until August 28.

Bloomberg

Negative-yielding corporate bonds are all the rage in Argentina

30-07-2020 14:21 Argentine companies issued a record US$596 million of dollar-linked bonds domestically in the past two months, and about a third now pay negative yields. Investors, nevertheless, are lapping them up.

UK LAWSUIT

Argentina loses bid to throw out US$738-million hedge-fund lawsuit

21-07-2020 22:45 Argentina has lost an attempt to dismiss a UK lawsuit filed by four hedge funds alleging that the country manipulated economic data to avoid making payments for securities linked to its growth.

DEBT RESTRUCTURING

Debt deal at impasse as creditors unite to reject government's offer

20-07-2020 23:50 Three groups of creditors announce they have rejected Argentina's proposal to restructure US$66 billion of debt and delivered a counter offer to government – which President Alberto Fernández promptly dismisses out of hand.

Bloomberg

Creditors join forces to demand better terms on debt deal

20-07-2020 21:54 Three largest creditor groups join forces in negotiations, rejecting government's "final" offer and submitting their own counter proposal.

BLOOMBERG

Argentina would ease currency controls if debt talks are successful

29-05-2020 14:56 Central Bank leaders implemented new controls Thursday night, restricting companies’ access to the foreign exchange market to pay for obligations overseas in dollars or other currencies.

Bloomberg

Unofficial exchange rate slumps as printing presses warm up

14-04-2020 15:51 Argentina's unofficial exchange rate dropped on Monday after President Alberto Fernandez indicated the country may be preparing to turn on the printing presses to revive the economy.

LATAM MARKETS

LatAm stock exchanges suffer new plunge over coronavirus

12-03-2020 22:36 Argentina's main stock exchange crashed by nearly 10 percent on Thursday as markets continued to panic, while falls also recorded in Chile, Colombia and Brazil.

Bloomberg

Brazil's Central Bank will intervene 'as long as needed' to support real

09-03-2020 13:49 The Brazilian Central Bank pledged to support its tumbling currency with all instruments and for as long as needed just as it stepped heavily into the spot market for the first time this year.

RATE CUT

Central Bank cuts interest rate to 38%

06-03-2020 08:00 In its statement, the Central Bank’s committee said cooling prices justified the rate cut but that the economy wasn’t in the clear yet.

RATE CUT

Central Bank lowers key rate to 40%, extending cuts

19-02-2020 18:15 Central Bank chief Miguel Pesce justifies the rate cuts as a tool to help turn around Argentina’s economy, which is expected to contract for the third straight year in 2020.

RATE CUT

Central Bank cuts key interest rate for fifth time since December 10

30-01-2020 21:29 Rate floor cut to 48 percent on Thursday from 50 percent. Central bank chief Miguel Pesce has lowered it from 63 percent since taking office December 10.

MIGUEL PESCE INTERVIEW

Miguel Pesce: Central Bank will try to cut rates, slow inflation

09-01-2020 12:46 New Central Bank chief refuses to make inflation forecasts, saying he wants to rebuild the institution’s credibility “with results.”

CAPITAL CONTROLS

‘Strict’ foreign-exchange controls to stay in place, says Kulfas

05-01-2020 08:26 “In the current context, strict exchange rate regulations are inevitable,” says production minister

ECONOMIC INDICATORS

BA stock exchange soars as economic measures kick in

26-12-2019 21:50 The Buenos Aires stock exchange rose by almost six percent on Thursday as a package of economic reforms came into effect in Argentina.

TRANSITION 2019

Sandleris confirms resignation as Central Bank chief

05-12-2019 06:58 Central Bank chief confirms he will resign post ahead of December 10 handover. Argentina's monetary institution has had 61 presidents in the 84 years since its founding.

PESO SLUMPS

Chile's Central Bank to inject US$4 billion to halt curency slide

14-11-2019 11:05 Chile's currency closed at a new record low for the second day running on Wednesday after losing another 1.5 percent amidst a weeks-long crisis.

bloomberg

Argentine bonds sink to 36 cents as Fernández stays mum

13-11-2019 17:43 Investors are seeking definition and signs Argentina will do everything to avoid default. But president-elect Alberto Fernández still hasn't detailed his plans.

ECONOMIC INDICATORS

Central Bank alters 2019 forecasts: 3% drop in GDP, inflation at 55.6%

05-11-2019 14:15 Monthly survey carried out by Central Bank downgrades forecasts for Argentina's economy.

BLOOMBERG - OPINION

Eduardo Levy-Yeyati: Argentina's narrow path to common ground

01-11-2019 07:30 Economist and author Eduardo Levy-Yeyati says Alberto Fernández has a chance to fix Argentina's deep-seated economic problems — if he acts quickly.

CURRENCY CONTROLS

Central Bank tightens 'cepo,' sets US$50 limit on cash advances abroad

31-10-2019 22:10 The move comes three days after the Central Bank sharply tightened currency exchange controls to stem a surge in capital flight.

BLOOMBERG

Argentines pull dollar deposits from banks before Sunday vote

25-10-2019 15:09 Central Bank’s reserves have sunk US$2.2 billion this week alone, and while part of that is to pay government debt and comes from large corporations, retail transactions have surged.

EXCHANGE MARKETS

Tensions in exchange markets intensify ahead of election

24-10-2019 14:29 Peso selling at 62 per US dollar on official markets, reaching as high as 69 per greenback in Córdoba.

BLOOMBERG

Markets: Here’s what to watch after Argentines vote on Sunday

24-10-2019 13:34 With frontrunner Alberto Fernández in pole position, the question is how much support the new government will get in Congress and how conciliatory he may prove to market-friendly incumbent Mauricio Macri.

BLOOMBERG

Third Point blames Argentina bet for biggest third-quarter loss

24-10-2019 12:27 Hedge fund says it miscalculated and failed "to anticipate the extent of Macri’s loss in the primary election."

CENTRAL BANK

Sandleris asks for 'basic consensus' to ensure Argentina grows

16-10-2019 08:29 "If we manage to build basic consensus, our economy can leave behind instability and crisis, so that we can begin to grow steadily and begin to lower inflation," declares Central Bank chief.

BLOOMBERG

Stock and bond trading decimated in once red-hot Argentina

07-10-2019 16:59 Assets under management at local banks and brokerages have plummeted 25% since the primaries. Stock trading has fallen by half, and local bond volume is down by two-thirds.

BLOOMBERG

With controls in place, Central Bank cuts 85% rate, buys dollars

18-09-2019 14:08 Institution's move to choke off dollars hands peso some breathing room, with Central Bank buying dollars for first time in seven months.

BLOOMBERG

Argentine corporate bond funds stuck in limbo after controls

13-09-2019 10:15 Argentina unveiled a series of capital controls at the start of this month as President Mauricio Macri responded to a plunging peso draining government reserves after his poor showing in a presidential primary vote.

BLOOMBERG

Argentines make 7% returns in minutes thanks to capital controls

10-09-2019 11:19 One system to circumvent the controls is paying a return of seven percent in a matter of minutes, and it’s completely legal. The profit derives from the difference between the so-called “MEP dollar” – which entails buying and selling bonds in different currencies – and the official exchange rate.

Bloomberg

Argentine bondholders pull out old guidebook to flee country

08-09-2019 08:55 “Many investors thought Argentina was on its way to becoming Chile or Colombia – stable, investment grade,” said Leo Chialva, a partner at Buenos Aires-based consulting firm Delphos Investment. “Those large funds are horrified by the latest measures.”

Bloomberg

MercadoLibre makes Argentina home to best bond in emerging markets

06-09-2019 08:01 A convertible note from MercadoLibre Inc., the Buenos Aires-based e-commerce company with operations across Latin America, has trounced its peers with a 72 percent return this year. That’s the best performance in all of emerging markets.

ECONOMIC INDICATORS

New Central Bank survey predicts 55% inflation in 2019

04-09-2019 09:46 GDP anticipated to contract by 2.5% this year, survey of economists and consultancy firms reveals.

ECONOMIC INDICATORS

Stock Exchange down 11.9% on second day of currency controls

03-09-2019 18:14 The Merval index of the Buenos Aires Stock Exchange fell 11.9 percent on Tuesday, with slumps registered for banks and energy companies.

ECONOMIC INDICATORS

Exchange market stable on second day of currency controls

03-09-2019 12:27 Peso at 58.59 per greenback, country risk remains at 2,532 points.

BLOOMBERG

Bonds fall, peso seen steady as capital controls begin

02-09-2019 12:21 Money managers dumped Argentina’s Eurobonds after the government imposed capital controls on Monday morning.

Selective cepo?

Government imposes currency controls in bid to halt flight of dollars

01-09-2019 16:04 Exporters ordered to seek permission from the Central Bank of Argentina before purchasing foreign currency and and purchases of dollars limited to US$10,000 per individual a month.

MARKETS

Peso drops, country risk up after volatile day led by IMF visit

28-08-2019 07:30 Argentine markets sink anew after initial start to week dominated by IMF mission team's visit and Alberto Fernandez’s criticism of Fund and Mauricio Macri's government.

BLOOMBERG

Bond investors keen to hear from Alberto Fernández's economic advisors

27-08-2019 12:24 Money managers including BlackRock, Goldman Sachs and others have made contact with advisers to Alberto Fernández, with some pleasantly surprised by what they've heard.

BLOOMBERG

Argentina’s line in the sand – 55 pesos – holds firm

22-08-2019 16:56 Dollar auctions by the Central Bank and the Economy Ministry have kept the peso near the same level all week, even as a debate rages about a possible sovereign default and currency controls.

CHANGE AT THE TREASURY

Peso stability a priority, declares new Finance Minister Hernán Lacunza

20-08-2019 13:46 "Guaranteeing the exchange rate is a first-order objective," says Lacunza, who also promises that Argentina would keep 2019 fiscal targets set in alignment with IMF.

BLOOMBERG – ANALYSIS

Markets: Dead-cat bounce finally arrives for Argentine markets

15-08-2019 15:08 After a brutal three-day sell-off that saw average yields spike to 21% and an implied probability of default gauge surge above 80% percent, investors finally found prices cheap enough to begin taking risk in the battered credit.

PASO FALL-OUT

Argentine peso rebounds after Macri, Fernández call for calm

15-08-2019 14:56 The peso regained value against the dollar as markets opened on Thursday, following three days of sharp declines.

ANALYSIS

Macri, Fernández play game of chicken as Argentine markets sink

13-08-2019 12:42 Who’s to blame for the epic Argentina market sell-off over the past two days?

PASOS 2019

Dollar already being sold at 49.50 pesos on Internet

12-08-2019 09:40 Market predictions diverged from the actual votes of Argentines as markets prepare for a post-Cambiemos Argentina.

FINANCE

Pre-PASO turbulence sends peso to 46.69 per greenback

05-08-2019 18:03 Pre-PASO turbulence and China's devaluation of its currency hit the local exchange markets today, with country risk nearing 900-point barrier.

News of exchange

YPF leads Argentina corporate bond rout on new forex limits

Central Bank tightens currency controls as peso weakens

Argentines are abandoning a trade that hedged currency risk

Central Bank optimistic over post-bond swap future

Government files official debt offer with SEC, extends deadline

Negative-yielding corporate bonds are all the rage in Argentina

Argentina loses bid to throw out US$738-million hedge-fund lawsuit

Debt deal at impasse as creditors unite to reject government's offer

Creditors join forces to demand better terms on debt deal

Argentina would ease currency controls if debt talks are successful

Unofficial exchange rate slumps as printing presses warm up

LatAm stock exchanges suffer new plunge over coronavirus

Brazil's Central Bank will intervene 'as long as needed' to support real

Central Bank cuts interest rate to 38%

Central Bank lowers key rate to 40%, extending cuts

Central Bank cuts key interest rate for fifth time since December 10

Miguel Pesce: Central Bank will try to cut rates, slow inflation

‘Strict’ foreign-exchange controls to stay in place, says Kulfas

BA stock exchange soars as economic measures kick in

Sandleris confirms resignation as Central Bank chief

Chile's Central Bank to inject US$4 billion to halt curency slide

Argentine bonds sink to 36 cents as Fernández stays mum

Central Bank alters 2019 forecasts: 3% drop in GDP, inflation at 55.6%

Eduardo Levy-Yeyati: Argentina's narrow path to common ground

Central Bank tightens 'cepo,' sets US$50 limit on cash advances abroad

Argentines pull dollar deposits from banks before Sunday vote

Tensions in exchange markets intensify ahead of election

Markets: Here’s what to watch after Argentines vote on Sunday

Third Point blames Argentina bet for biggest third-quarter loss

Sandleris asks for 'basic consensus' to ensure Argentina grows

Stock and bond trading decimated in once red-hot Argentina

With controls in place, Central Bank cuts 85% rate, buys dollars

Argentine corporate bond funds stuck in limbo after controls

Argentines make 7% returns in minutes thanks to capital controls

Argentine bondholders pull out old guidebook to flee country

MercadoLibre makes Argentina home to best bond in emerging markets

New Central Bank survey predicts 55% inflation in 2019

Stock Exchange down 11.9% on second day of currency controls

Exchange market stable on second day of currency controls

Bonds fall, peso seen steady as capital controls begin

Government imposes currency controls in bid to halt flight of dollars

Peso drops, country risk up after volatile day led by IMF visit

Bond investors keen to hear from Alberto Fernández's economic advisors

Argentina’s line in the sand – 55 pesos – holds firm

Peso stability a priority, declares new Finance Minister Hernán Lacunza

Markets: Dead-cat bounce finally arrives for Argentine markets

Argentine peso rebounds after Macri, Fernández call for calm

Macri, Fernández play game of chicken as Argentine markets sink

Dollar already being sold at 49.50 pesos on Internet

Pre-PASO turbulence sends peso to 46.69 per greenback

Offshore millionaires become target of wealth tax bill

Central Bank tightens currency controls as peso weakens

World Cup fixture pile-up overshadows FIFA Congress

NGOs ask Macron to 'bury' EU-Mercosur agreement

Fernández signs decree formalising removal of judges investigating CFK

La cuarentena va a octubre y devolvió alguna sonrisa entre Fernández, Larreta y Kicillof

Pichetto, pesimista: "Indudablemente, no hay destino para la Argentina"

Melconian: "La gente está hinchada las pelotas, hoy no puede creer en nadie"

Otro fallo a favor de Cristina: podrá acceder a los servidores de Google

"Argentina no es un país, es una trampa"