News of exchange

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.

CURRENCY

Central Bank to intervene as dollar jumps back to 25 pesos in early trading

18-05-2018 11:24 The Central Bank will today again offer to buy US$5 billion at AR$25 to the US dollar, media reports suggested.

TRADING 25.52 AGAINST DOLLAR

Argentine peso takes fresh hit amid uncertainty

15-05-2018 10:26 On Tuesday, holders of Lebac peso-denominated bonds issued by Argentina’s Central Bank are allowed to demand settlement — sparking a potential US$25 billion payout.

DOLLAR HOVERING NEAR 21.50p

Argentina's Central Bank hikes key rate to 40% to support peso

04-05-2018 12:23 Argentina’s Central Bank has hiked its benchmark interest rate to 40 percent to support the peso after it plunged in value.

EXCHANGE RATE

Central Bank raises rates to 30.25% after peso slumps against dollar

28-04-2018 08:48 Institution decides to intervene, citing “the dynamics of the exchange market” as reasoning.