The dollar price opened stable at $ 57 and the country risk continues to decline

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The dollar opened the stable day, at $ 57 at the branches of Banco Nación, the same price as the previous day. Meanwhile, in the wholesale segment, the US currency registered a value of $ 56.20, up 20 cents from Wednesday's close.

However, the first three days of the week were marked by a exchange calm after the restriction measures in the purchase of foreign currency announced by the Government. This situation was reflected in a major fall in country risk and widespread improvements in local assets, although "caution" continues to dominate investors' forecasts, operators told Reuters.

The country risk approached the 2,600 basis points on Monday, prior to the opening of local markets, and thus reached its peak since 2005. However, since then it has already dropped more than 300 points and in today's opening it moved around the 2,242 points.

On Wednesday, the wholesale dollar rose just 0.29% as a result of a direct intervention by the Central Bank. "The BCRA should also maintain the balance of the value of the dollar in that figure ($ 56), because in the current context of the financial and exchange market it is important to maintain the stability of our currency, giving predictability to exporters and importers to work and meet their obligations normally, "said Fernando Izzo, operator of ABC Mercado de Cambios.

The Minister of Finance, Hernán Lacunza, ratified in television statements that the current exchange rate "is correct" and that all the necessary reserves will be used to defend the peso.

"We are going through a truce in the markets. Prices have already fallen too much and the dollar seems to have been tamed by the Central Bank, but you have to be cautious and not think that everything has already happened, "a financial trader told Reuters

The Merval index of the Buenos Aires Stock Exchange, meanwhile, won a strong 6.94% on Wednesday, after having collapsed 11.86% in the previous day. This upward trend was coupled by ADRs in New York, which managed to jump up to almost 20% for "opportunity" purchases.



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https://www.infobae.com/economia/2019/09/05/la-cotizacion-del-dolar-abrio-estable-a-57-y-continua-la-baja-del-riesgo-pais/

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