Government exchanges peso securities for $750 mn of dollar bonds

This week, the government is facing a new exchange of 8 pesos titles for a combination of AL30 and AL35, an issue equivalent to $750 million. The objective is to give an easy way out to foreign funds entered Argentina encouraged by the high yield of the carry trade and that, after the imposition of limits in the currency market, were trapped in the country. The Economy Department assures that this alternative opens an exit door for this type of investors who do not consume Central Bank reserves.

Source: Ámbito