trending Market Intelligence /marketintelligence/en/news-insights/trending/ovs-gy8ynnsgm2dpokz_yq2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Argentina holds benchmark rate as peso firms

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Infrastructure Issues: Tools to Dig Deep on Potential Risks

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Argentina holds benchmark rate as peso firms

Banco Central de la República Argentina maintained its benchmark rate at 40%, Reuters reported, as the Argentine peso gained momentum after two sessions of losses.

The peso closed up 1.4% at 25.75 pesos per U.S. dollar, rallying from a record low of 26.20 pesos on June 11. The central bank said it sold some $695 million on the spot market after hinting last week that exchange rate volatility had passed.

The central bank said that although inflation in May is likely to be lower than private-sector estimates, it is expected to pick up in June.

"This scenario demands a decisive response," the central bank reportedly said. "This institution is committed to maintaining a contractive bias in monetary policy until it observes tangible signals that both inflation and inflation expectations are starting to decline."

Argentina announced on May 8 that it was turning to the International Monetary Fund for financial aid, following the fall of peso.

The central bank raised its interest rates to 40%, the world's highest. It also repeatedly offered to sell reserves worth $5 billion at 25 pesos per dollar to prevent the peso from falling below that level.

Argentina withdrew the offer June 8, a day after the announcement of its $50 billion standby arrangement with the IMF.

As of June 12, US$1 was equivalent to 25.84 Argentine pesos.