Relief due to a strong decline in country risk



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Financial territory Government Mauricio Macri has weeks of calm due to the strong decline in registered country risk during the last days. The recovery that can be observed as early as 2019 caused the indicator to close yesterday at 672 points, 160 points less than the peak reached in December.

Data added to the low experienced by the dollar during the last round of the week. The North American currency fell 17 cents today and closed at $ 38.56 on average to be sold to the public at major national banks, while the Liquidity Letters rate remained on the downward path and ended at 57.253%.

In the wholesale segment, the dollar fell to $ 37.58 but remained above the minimum band float, which today operates between $ 37.55 and $ 48.59.

In this way, wholesalers operate all wheels in a non-intervention zone regulated by the Central Bank, avoiding – like yesterday – intervention from the monetary center in a single market and free from change.

With this value, the dollar will open next Monday equal to the band floor value.

The latest decline in country risk was explained by increases in state bonds, which ended the week with a positive trend. A Clarín newspaper notes that the decline in state risk overlaps with recent inflation figures given the very bad annual figure of -47.6% – with a downward trend that shows the CPI of the peak reached in October.

It also shares space in information with a very bad amount of economic activity, which the government hopes will start back from the second quarter, when dollar revenues from gross harvests are fully undertaken.

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