September 21, 2018 / 2:02 PM / 7 months ago

Argentine peso strengthens again on optimism of new IMF deal

BUENOS AIRES, Sept 21 (Reuters) - Argentina’s peso strengthened 2 percent to 37.5 per U.S. dollar on Friday, without the benefit of any intervention by the central bank, which has been holding regular dollar auctions to support the battered local currency, traders said.

The peso has been driven higher this week by optimism that the government will sign a revised standby financing deal with the International Monetary Fund that will include stricter fiscal measures.

The currency has also benefited from dollar inflows as investors pile into Treasury notes offered this week at interest rates of about 50 percent. This week the peso has strengthened 6.32 percent, but remains more than 50 percent weaker this year.

Reporting by Jorge Otaola, writing by Hugh Bronstein

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below