BUENOS AIRES, Sept 21 Argentina's peso
strengthened for the third straight day on Friday, driven by
optimism that the government would sign a revised financing deal
with the International Monetary Fund to include stricter fiscal
measures and faster cash disbursements.
BUENOS AIRES, Sept 20 The Argentine peso closed
2.9 percent stronger on Thursday, reflecting investor optimism
that the recession-hit country will strike a new standby
financing agreement with the International Monetary Fund aimed
at guaranteeing government solvency.
BUENOS AIRES Argentina's peso currency fell 3.51 percent to close at a new record low of 39.9 per U.S. dollar on Thursday, as market confidence ebbs away in Latin America's no.3 economy despite President Mauricio Macri's efforts to reassure investors.
BUENOS AIRES, Sept 11 Argentina will maintain
its benchmark interest rate at 60 percent until at least
December, the central bank said on Tuesday, adding that it would
take any measures necessary to control inflation and assure the
country will continue meeting its debt obligations.
By Jorge Otaola
BUENOS AIRES, Sept 7 Argentina's peso rose for a
third day running on Friday after the central bank said
government financing for 2019 was secure and that yields on the
country's sovereign debt were too high, bucking pressure on
other currencies in Latin America.
The peso closed up 1.27 percent after slipping in
morning trade, marking a gain of 0.05 percent this week, also
lifted by optimism about talks between the government and the
International Monetary Fund to shore up Argentina's finances.
"There is no doubt that there is an over-exaggeration. This
is going to correct itself quicker than markets believe,"
central bank governor Luis Caputo said of the sovereign debt
yields at a conference of finance executives.
Financing for 2019 would be "more than sufficient",
The Argentine peso plummeted 16 percent last week after
President Mauricio Macri announced that the country would seek
early disbursements from its stand-by deal with the IMF to
assuage concerns about sustainability of its debt.
Markets were closed in Brazil for a national holiday a day
after the stabbing of far-right presidential candidate and
front-runner Jair Bolsonaro jolted the country, throwing the
election race into chaos a month before the vote.
Several currencies in the region weakened after U.S.
President Donald Trump said on Friday he had tariffs ready to go
on $267 billion worth of imports from China, stirring fears of
escalation in a gathering global trade conflict.
That threat came on top of $200 billion worth of China's
goods already facing potential duties.
There was also no breakthrough yet in U.S.-Canada talks to
find common ground in the renegotiation of the North American
Free Trade Agreement (NAFTA), though Canada's foreign minister
said "very good progress" was being made.
Mexico's peso fell 0.8 percent, Peru's sol
closed down 0.12 percent to its lowest level in 20 months, and
Chile's peso shed 0.26 percent. Colombia's peso,
by contrast, was trading up over 0.8 percent in the afternoon.
Key Latin American stock indexes and currencies at 1945 GMT:
Stock indexes Latest Daily YTD pct
MSCI Emerging Markets 1,018.29 -0.34 -12.1
MSCI LatAm 2,410.79 1.29 -14.76
Mexico IPC 48,893.32 0.44 -0.85
Argentina MerVal 29975.00 0.09 -0.30
Colombia IGBC 11,996.81 0.03 5.50
Chile IPSA 5,221.01 1.00 -6.175
Currencies Latest Daily YTD pct
Mexico peso 19.3358 -0.82 1.88
Chile peso 690.80 -0.26 -11.02
Colombia peso 3,058 0.81 -2.49
Peru sol 3.326 -0.12 -2.68
Argentina peso (interbank) 36.95 1.27 -49.66
(Writing by Dave Graham;
Editing by Sandra Maler)
BUENOS AIRES, Sept 7 Argentina's central bank
chief said on Friday government financing for 2019 "will be more
than sufficient" and that the recent sharp depreciation of the
country's peso currency will "correct itself quicker than
BUENOS AIRES/WASHINGTON Argentina's economy minister sounded upbeat on Wednesday about clinching a new deal with the International Monetary Fund after two days of talks in Washington, and said had sought U.S. support for securing approval from the IMF's board.
BUENOS AIRES Argentina's beleaguered peso bounced back slightly on Friday after the central bank auctioned $250 million in dollar reserves and the International Monetary Fund issued a strong statement of support for President Mauricio Macri's government. | Video
BUENOS AIRES Argentina's peso lost as much as nearly one-fifth of its value on Thursday despite the central bank's hiking its benchmark interest rate to a dizzying 60 percent as investors panicked over President Mauricio Macri's handling of an economic crisis.