Day: April 22, 2020

The BCRA’s International Reserves fell to $43.78 bn

The dollar with settlement rose 4% to 109.56 pesos, so the gap with the wholesaler was 65.8%. The dollar exchange rate rose 4.1% to 108.43 pesos, leaving a spread of 64.1% against the MULC exchange rate. In the marginal segment, the blue dollar traded at 107 pesos. The BCRA’s International Reserves fell on Tuesday from $40 million to $43.78 billion. The Central Bank (BCRA) maintained unchanged on Tuesday a rate of 38% during an auction of Liquidity Letters (‘Leliq’). They added that the monetary authority placed $78.954 million in ‘Leliq’ at 28 days.

Argentina’s country risk index rose to 3,617 points

Argentina’s country risk rebounded 5.5% this mars, the index measured by JP Morgan rose to 3,617 points, amid global market turmoil over the sharp drop in oil prices and the rejection of Argentina’s debt renegotiation offer by creditors. Dollar bonds plunged to over 7%, and Argentine stocks on Wall Street closed down by almost 8.8%.

The travel company Despegar discontinues 500 employees and cuts salaries by 60%.

The travel company Despegar suspended 500 employees and will apply salary reductions of up to 60% and sign up for the Work and Production Assistance Plan. The firm, which has a presence in 20 countries and more than 3,000 employees in Latin America, has already dismissed 400 people, mainly in Brazil, Uruguay and Colombia. Despegar had bought two firms in the sector: at the end of January it acquired BestDay for $136 million, and in April 2019 it purchased Viajes Falabella for a total of $27 million. Shares in February were trading at around $15.2, but fell to $5.2 and are currently at $6.2.