Argentines Clamor for Pesos, Leading Banks to Tap Repo Market: Shock Therapy [Yahoo! Finance Canada]
Grupo Supervielle S.A. American Depositary Shares each Representing five Class B shares (SUPV)
Last grupo supervielle s.a. american depositary shares each representing five class b shares earnings: 2/19 04:38 pm
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Source: Yahoo! Finance Canada
(Bloomberg) -- President Javier Milei wants Argentines to use more dollars. But for the first time in years, his countrymen are clamoring for pesos. Most Read from Bloomberg A surge in demand for the local currency in recent months has left commercial banks needing access to pesos, leading Argentina's central bank to revive a liquidity window that hasn't been tapped since the 2018 financial crisis. Activity in the repo market started increasing in September and skyrocketed earlier this month, when banks borrowed more than $1.6 billion in one-day term loans, central bank data show. The demand for peso loans is an early sign of a tepid economic recovery, though Argentina is still mired in recession. Milei, who had radical plans when he took office, is facing a complicated reality. Declining interest rates, which fell from a record high of 133% to 40%, are fueling the demand for credit. The ratio of consumer loans to deposits increased 64% this month, up from 42% at the end of 2
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