IMF: Reduced Argentina’s net reserve accumulation target

The executive board of the International Monetary Fund (IMF) reduced the net reserve accumulation target of Argentina by the end of this year to US$ 8,000 million, from US$ 9,800 million, it was officially reported.

The wholesale peso fell sharply 1.01% after four days of inactivity, to 213.37/213.39 per dollar through the regulation of liquidity from the BCRA, entity that accelerated the controlled devaluation in the last sessions.

“This week’s attention will be focused on the evolution of the exchange market with the agricultural dollar and on the inflation data for March that will be published at the end of the week”said clearing and settlement broker Cohen.

The domestic currency in the alternative segments advanced slightly to 403.1 units on the stock market “CLC”to 392 in it “MEP dollar” already 391 per dollar in the informal range. OTC debt lost a 0.3% average, influenced by the trend of dollarized issues, after falling a 1.8% last week.

Country risk, as measured by JP.Morgan bank, was down 22 units at 2,429 basis points at 2000 GMT. The bonds maintain an adverse climate after the country lost a lawsuit in the London court over the payments that four hedge funds (hedge funds) sued for manipulation of the Gross Domestic Product (GDP) data in 2013, linked to the coupons receivable.

For its part, the stock market showed an S&P Merval index with a rise of 1.54%, to 256,747.73 points such as provisional closure, encouraged by the actions of the state oil company YPF with improvement of the 6.05%in line with a recent agreement reached with Maxus.

The stock market information once again had problems in public distribution: “after it was affected at the beginning of the wheel. The service was restored at 11:30 (local time)”BYMA said. “work continues on the resolution of low-impact irregularities for the general public”he added.

The restart of operations after a long weekend also presented problems with electronic banking transactions, which led to more public presence in building branches.

Source: Reuters