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|15/08/19 10:30 AM

Argentina: Why did the dollar rise?

Despite the economic announcements of Mauricio Macri after the elections, the US currency suffered a three peso jump. In Mendoza it closed at $ 62.88

Por Redacción

Beyond that President Mauricio Macri announced economic measures to "relieve" the middle class, the dollar rose again and closed at $ 63.

Why did the dollar increase?

The dollar rose again beyond what was announced by the national government, after communicating a series of economic measures to help the middle class. According to the Central Bank, the currency stood at $ 62.18, while in the National Bank it was possible to see $ 63, which represents an increase of 8.6% per day.

In the main square, meanwhile, the currency climbed 4.60 pesos or 6.2%, to 60.40 pesos.

"It was another unfortunate day. The exchange rate 'flew', despite the intervention of the Central slightly higher. The actions also suffered, beyond the global context. The country risk is in default figures, not even in levels of “crisis.” As a positive, the Central recovered some of the pesos that it launched to the square on Monday, which would give a pattern that the withdrawals are not so great in the branches.It was another terrible day, like the ones we lived from the Monday "highlighted some economic analysts.

To this is added the variants suffered in the Chinese economy, which modified and complicated the numbers during the month of July more than expected. This led to a slowdown in industrial production taking into account the trade war that the Asian country has with the United States. On the other hand, the economic movements that occurred in Germany, representing a large part of Europe, contracted 0.1% in the second quarter.

How did the dollar close in Mendoza?

In the province of Mendoza the dollar closed this Wednesday at $ 57.68 for the purchase while for sale it was positioned at $ 62.88.

Country risk

On the other hand, the country risk climbed above 12% and hit another record of the last decade, very close to 2,000 points.