https://finance.yahoo.com/quotes/USDARS=X,argt,bma,ggal,bfr,loma/view/v1 "Argentine Central Bank Emergency-Hikes Rates To 60% To Stop Peso Collapse" https://www.zerohedge.com/news/2018...apse-accelerates-macris-imf-begging-backfires .
Yet another example of "Government F'n UP everything it touches". The further Left, the faster and worse the damage.
Let's look at it from opportunistic viewpoint. How to trade Argentina peso? I look at spot volume. It is extremely low. There should be a way to trade peso. Really exotic currency.
"Argentine President Admits "More Poverty" To Come, Announces Price Controls, Higher Taxes, Smaller Govt" https://www.zerohedge.com/news/2018...ty-come-announces-price-controls-higher-taxes .
Updated quote list includes the local Argentine listings https://finance.yahoo.com/quotes/US...,bfr,fra.ba,supv,supv.ba,loma,loma.ba/view/v1 .
"Visualizing Argentina's Bank Run In 1 Crazy Chart" https://www.zerohedge.com/news/2018-09-06/visualizing-argentinas-bank-run-1-crazy-chart .
A collection of articles about Argentina: "Reality Hits Banks In Argentina" https://seekingalpha.com/article/4201513-reality-hits-banks-argentina Moodys: "Although Argentina's banks are relatively insulated from the drop in the exchange rate, the steep and sudden increase in interest rates is credit negative for them" https://globalriskinsights.com/2018/09/peso-crisis-argentine-risk-analysis/ https://frontera.net/news/latam/argentinas-new-currency-crisis-what-happened-this-time/ .
Interesting action in the US listings of the Argentina banks today. https://finance.yahoo.com/quotes/US...,bfr,fra.ba,supv,supv.ba,loma,loma.ba/view/v1 GGAL +10.42% and BFR +7.71% and SUPV +6.92%. All three closed near the top of their intraday ranges. But BMA +1.32% only, and closed the day roughly in the middle of its intraday range. Company name = Banco Macro For what it's worth, it looks like USDARS was little changed at 39.50. By "little changed" I mean a move of less than 1% from where it was on the weekend. .
Argentina Bailout The IMF has boosted its bailout of Argentina by an extra $19 billion, taking it to a total of $57.4 billion by the end of 2021. The Argentine peso has halved in value against the dollar this year, and was sent tumbling further by the shock resignation this week of central bank governor Luis Caputo. CNBC
"Macri’s Shock Setback in Argentina Deals Blow to Re-Election Bid" https://www.bloomberg.com/news/arti...primary-elections-seen-as-referendum-on-macri USD/ARS was at about 45.25 on Friday. From the above article: "The peso could lose 25% of its value on Monday, according to BTG Pactual Argentina." In early New York trading a couple of banks' ADRs (priced in US Dollars) are down by 25% to 30%. Today should be interesting for both the currency and the stockmarket. .