A week of negotiations, trips and agreements to sustain the unstable Argentine economy ended. Massa met with various international agents on his trip for support from the Asian giant: China.
In the last hours it was learned that Argentina renewed the agreement and expanded the currency swap with China, which means that the Central Banks of both countries sealed the early renewal of the swap with the Asian giant for 130 billion yuan, for the term three years old In addition, the expansion of the amount of use for another 35 billion yuan began, which will operate once the first tranche of expansion of use used for commercial exchange between the two countries is exhausted and by agreement of the parties, reported the authority monetary.
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In this way, a commercial exchange regime will be put in place that will allow companies to use yuan without the intermediaries that are used in this type of operation, seeking to leave the dollars from the reserves available for other operations.
From the yuan exchange, Argentine companies will be able to enter the single and free exchange market directly for the yuan instead of doing it from the CCL dollar or using the Chinese currency to buy dollars. These agreements generated that the bonds in dollars soared and made the country risk fall, while the Buenos Aires stock market fell slightly.
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Likewise, the BCRA ended this Friday with a positive balance of US$ 32 million due to its participation in the exchange market, which extended the purchasing streak to 19 consecutive rounds and accumulated purchases in the week for US$ 631 million.
In Córdoba, the unofficial international currency closed the week at $496 for sale and $488 for purchase.
Other dollar quotes:
- •Blue Buenos Aires $490
- •Average officer $250.07
- • Bag $469.09
- •Cash with liquidation $490.87
- •Crypto $486
- • Solidarity $413.32
With information from NA