87722
Argentine Stock Market Up 4.15%
Argentine Stock Market Up 4.15%

Argentine Stock Market Up 4.15%

Argentine Stock Market Up 4.15%

Argentina’s stock market rose 4.15% while its currency fell 1.68% against the dollar Friday, a day after Buenos Aires agreed to a $50 billion standby loan from the International Monetary Fund, AFP reported. During the week, the leading Merval index rose 10.5% while the peso lost 2.3%. The exchange rate closed at 25.98 pesos per dollar after the central bank announced it would let the currency float, removing the 25 pesos per dollar ceiling it had set. The Argentine economy climbed 2.8% in 2017, but growth slowed after a crisis of confidence that resulted in the loss of over $10 billion of central bank reserves and saw the peso plunge by nearly 20%. That led Latin America’s third-largest economy to ask for IMF assistance to help it face mounting inflation, budget deficits and a weakening currency—an unpopular move in a country in which many associate the financial institution with painful memories of past economic and social crises.

 

Short URL : https://goo.gl/Gvauj2
  1. https://goo.gl/qYWZH6
  • https://goo.gl/vPbDB9
  • https://goo.gl/Wz8wMP
  • https://goo.gl/P3w8HC
  • https://goo.gl/k1fK6D

You can also read ...

The treasury department in Washington
Foreign governments pulled back their purchases of longer-term...
Brazil, India Corporate Debt at Risk of Default
A 200 basis-point increase in interest rates could spark a...
Six people including two former HBOS bankers were jailed last year.
An internal Lloyds Banking Group report written by a former...
Shares of petrochemical companies in Asia slumped on Tuesday, tracking the global equity downturn overnight.
The trade dispute between the world’s two largest economies...
BoK Hints at Rate Increase
Bank of Korea Gov. Lee Ju-yeol indicated Tuesday that the bank...
China Accuses Trump of Blackmail, Vows Strong Retaliation
China vowed to retaliate after President Donald Trump...
London Metals Cut Losses
London metals edged higher and Shanghai contracts cut early...
Mario Draghi
Mario Draghi promised that the European Central Bank will take...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus