U.S.-Argentina $20 Billion Swap Deal
U.S. Treasury Secretary Scott Bessent announced that negotiations are underway with Argentina on a $20 billion swap deal. Bessent announced that Fed officials are in discussions with Argentine officials on this important deal.
Currency Stabilization and Crisis Management
Bessent said that they are working closely with the Argentine government to prevent excessive volatility in the country's foreign exchange market. He said that they will take the necessary steps when the Argentine authorities are ready to purchase their dollar-denominated bonds.
Positive Impact on Markets
Bessent said that they are also preparing to provide a significant amount of stand-by credit through the Foreign Exchange Stabilization Fund and that they will carefully monitor the election and economic developments in Argentina. These statements once again reinforce the US support for Argentina.
Argentine Peso Gains Value
The Argentine peso gained value in the markets after the US Treasury Department announced its financial assistance to Argentina. The peso was trading up 2.8% at 1,330 pesos per dollar at market open in Buenos Aires.
The price of bonds maturing in 2035 rose more than 4 cents to trade above 62 cents per dollar, according to Bloomberg data. That's the highest level since Sept. 2.
⚖️ Yasal Uyarı:Bu içerik yatırım tavsiyesi niteliği taşımaz. Yatırımlarınızla ilgili kararlarınızı kendi araştırmalarınız ve risk profilinize göre almanız önerilir.
US, Argentina, swap line, swap agreement, Treasury Department, Scott Bessent, currency stability, high currency
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