The Ministry of Economy obtained on Monday 63,592 million effective pesos (about US $ 399 million) in a tender that had the reopening of two bonds and a Treasury billplus the issuance of a new letter, where it had to validate high rates to attract investors.
“In this context, the BCRA accelerated the devaluation rate to 6.9% per month while the Minister (of Economy, Sergio) Massa announced a new differential exchange rate to promote regional economies affected by frosts, droughts and other adverse events. and would govern 40 days between November 20 and December 30”Delphos Investment commented.
Stocks and ADRs
The S&P Merval index for Buenos Aires rose 0.1% to 147,924.03 points, while on Monday it added 2.3%. On the leading panel, the companies that increased the most were Transportadora de Gas del Norte (+3.2%), Pampa Energía (+3%), and Ternium (+3%). The main decreases, on the other hand, were Transportadora de Gas del Sur (-4.3%), YPF (-2.5%), and Transener (-2.2%).
Source: Ambito
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