In the middle of currency peace, the country risk fell to a minimum in three months


During the first days of February, the financial "summer" with a calm dollar continued, a renewed appetite for Argentine stocks and bonds and also a significant drop in country risk, one of the most relevant indexes for foreign investors, minimum levels of the last three months.

The exchange rate below the exchange rate range, despite the continuous purchases of foreign currency by the Central Bank every day, indicates that the US currency is currently much more offered than required. And this offer is explained in the amount of dollars coming in from abroad either through investment funds that take advantage of the attractiveness offered by interest rates in pesos or by exports of the agro-export complex.

The renewed confidence of investors, an international context that favors markets such as Argentina, also appears in country risk. This index, prepared by JP Morgan, marks the extra cost that Argentina must pay to issue debt in the market compared to the United States.

Thus, with the current 627 country risk points, 3% less than a day ago and 200 points less than at the end of last year, the State could place bonds at a rate just under 9%. This indicator generally decreases when the assets of a country begin to be bought by investors, as is the case of Argentine assets.

The Buenos Aires Stock Exchange ended on Tuesday with a slight advance and accumulated seven consecutive days with upward trend. S & P Merval added 0.88% on Tuesday to 37,471.67 points and returned to a maximum in pesos. The overall balance of the wheel yielded a total of 42 ups, 35 lows and 10 unchanged parts.

The stock market on Tuesday was another example of the situation. The central bank bought $ 75 million on Tuesday. He did this in two runs: first $ 50 million, with $ 37.17 on average and $ 25 million at $ 37.17 an hour later. The monetary entity has acquired more than $ 600 million so far this year. Despite these operations, the dollar barely moved a penny.


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