Thursday, July 7, 2016 Peso stabilizes at 15 per dollar after BrexitThe post-Brexit run against the peso seems to be over, after the country’s currency continued to gain ground yesterday to close near the 15 peso to the dollar mark. But with the peso now at 15 per dollar, a peso above its mark two weeks ago, the government is likely to be less worried about an excessive appreciation for the moment. A gain of 18 cents meant that the peso closed at 15.05 per greenback in the retail market, while the wholesale dollar market also saw a 10-cent gain for the country’s currency, which ended at 14.72 per dollar. The dollar futures market is reacting in a similar way, predicting a 15.03 dollar by the end of the month, 15.41 for August and 16.50 for December. No Central Bank helpThe peso’s recovery took place despite a contined Central Bank policy of cutting interest rates on Tuesday, which carried on unabated despite the peso’s depreciation after the British vote to exit the EU.

Source: Bueno Aires Herald July 07, 2016 03:33 UTC