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Argentine Market Collapses

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The US dollar reaches a record high in Argentina soaring near to $ 62. The Argentine peso plunges 37.04% triggered by PASO elections. The results of the elections held on Sunday 11 reduce the chances of the re-election of current President Mauricio Macri.


The S&P Merval index plunges over 31%, losing more than 13,500 pts. The financial sector is the worst performer of the session. Banco Galicia (GGAL) leads the losses losing 43.87%, Banco BBVA (BBAR) drops 42.47%, and Banco Macro (BMA) eases 40.09%.


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