Day: April 7, 2020

International reserves rose to $44.7 billion

The BCRA’s International Reserves rose Monday to $52 million and $43.7 billion. The tourist dollar -which carries the 30% surcharge for the Country Tax- rose 16 cents this Monday to 87.07 pesos. In the Single and Free Market (MULC), the currency rose eight cents to 64.99 pesos. The Liquidation Counted Dollar (CCL) – obtained from the purchase and sale of shares or bonds – rose 1.65 pesos to 90.78. Therefore, the gap with the wholesaler was 39.6%.

The market expects a 4.3% drop in GDP by 2020

As a result of an adjustment for the economic impact of the arrival of the coronavirus in the country, consulting firms and financial institutions estimate a 4.3% drop in Argentina’s GDP in 2020. The figure comes from the Market Expectations Survey (REM) carried out by the Central Bank (BCRA) in March.

Dollar bonds fell to 14%; however, S&P Merval rose 1.6%.

Dollar securities under local legislation collapsed by up to 14%, while foreign-regulated instruments closed in positive territory by up to 3.6% after the government postponed payment of up to $10 billion of debt under Argentine legislation until the end of the year. Argentina’s country risk, as measured by JP. Morgan fell 2.6% to 3,588 units. The leading S&P Merval index of Bolsas y Mercados Argentinos (BYMA) rose 1.6% to 26,922.59 units