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December 18, 2014
Monday, July 28, 2014

US dollar jumps on debt talks uncertainty

The “blue” today dollar spiked 40 cents, to 13 pesos, amid growing uncertainty over the negotiations between Argentina and its holdout creditors in New York, as the July 30 deadline set by US Judge Thomas Griesa approaches.

Earlier today the government announced an official delegation was to meet with court-appointed mediator Daniel Pollack tomorrow, but a few hours later Pollack himself said no meeting had been scheduled so far.

The official US dollar, meanwhile closed up one cent, trading at 8.20 pesos in Buenos Aires City banks and foreign exchange offices.

The Central Bank bought u$s 30 million, adding to the u$s 40 million it had purchased on Thursday. Grain exporters sold off over u$s 640 million last week, totalling u$s 15 billion in 2014.

Argentina's foreign currency reserves, however, descended to 29.01 billion dollars, a drop of 695 million which corresponds to the first payment made today to creditors in the Paris Club.

The blue-chip swap traded up at 9.90 pesos while the stock exchange rate fell back to 11.36 pesos.

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Tags:  exchange  US Dollar  Blue  Argentina  





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