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ARGENTINA: Merval Reverses Early Losses To Close Slightly Higher

(Agencia CMA Latam) - Merval, the main index of the Buenos Aires Stock Exchange, faced a volatile session in which it reversed losses at the end of the afternoon to close slightly higher (+0.06%), at 26,499.53 points. The last few sessions in the Argentinean stock market have been marked by low trading volume as investors await the labor and pension reforms unfoldings.

Puente brokerage analysts said that the perspectives of approval of different being discussed in the Congress and the high-interest rates in Argentina are an extra incentive for foreign inflows. As a result, the Bank Nation's Letters (Lebac) gain great attractiveness for the investors against the U.S. dollar and stocks.

The locally traded U.S. dollar closed with a decrease of 0.20%, at 17.25 Argentinean pesos amid high supply and investors who bought pesos to invest in Letters of the National Bank (Lebac).

"The foreign exchange market had a mixed path today," said Gustavo Quintana, an analyst at PR Corredores.

by Agencia CMA Latam

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