The Blue Dollar closed Wednesday at $490 on sale, for which he lost three pesos in the last round in May. Meanwhile, Cash with Settlement, used by businesses to send foreign currency overseas, closed at $491.76.
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Investments: Stocks won in May
Despite the uncertainty on exchange rates and the acceleration of inflation, May was a good month for Argentine investors, especially for those who bet on the stock market. The Buenos Aires stock exchange closed the fifth month of the year with an increase of almost 15% in pesos – the dollar counted with liquids rose by 8.7% – and accumulates an increase of 69.3% from early 2023. There were Merval-listed stocks, which are up more than 34% and General Panel stocks, which are up more than 70% this month alone.
On the bond front, despite growing volatility, exacerbated by the approaching mid-term elections, dollar-denominated fixed income instruments finished the month with yields in excess of 10%.
After the exchange rate turmoil at the end of April. the dollar market was more “stable” in the fifth month of May. Due to scrutiny, raids, new equity hurdles, among other measures implemented over the past 30 days, financial dollars closed with a jump in line with expected inflation: an 8.5% monthly increase for cash with settlement and 7.1% per month for the MEP dollar. To know more.
The blue dollar closed at $490 on Wednesday
The US currency in the parallel market fell by three pesos in the last round of May.
The CCL dollar, used by companies to remit foreign currency, closed at $491.76. Meanwhile, the MEP dollar, also known as the equity dollar, closed at $466.98.
Charles Arterburn is a seasoned business journalist for News Rebeat, where he provides comprehensive coverage of the latest trends and developments in the world of finance and economics.