


(Reuters) - Argentina's rising central bank debt poses a risk to the country's monetary stability, ratings agency Moody's (NYSE:MCO) said on Wednesday, adding it could further stoke inflation and aggravate any exchange rate shock if savers flee from the local peso currency.
In that scenario, Moody's warned, authorities could even freeze peso deposits, an extreme measure which would bring back memories of the infamous 'corralito' restrictions during the crisis of 2001 that aimed to prevent a run on the banks.
"With the amount of pesos the central bank and government have, they may conclude that they have no choice but to limit access," Moody's analyst Gabriel Torres said in a webinar.
"Argentina has not been in that situation for a while, but it has done so in the past," he added.
In a report Moody's said central bank interest-bearing debt had increased significantly relative to GDP in the last two years, while its ratio to the monetary base was now over 200%.
"The ratio to the monetary base is comparable to the one observed in the late 1980s, a period that included a hyperinflationary episode," it added.
The entity said that there were refinancing risks related to local currency debt, with 64% of it maturing in less than a year and 70% of it indexed to inflation, which is currently running at 88% annually and expected to hit 100% this year.
"Because inflation is in the order of 100%, a sudden exchange rate shock could lead authorities to consider freezing peso-denominated bank deposit and savings accounts to limit further pressures on the exchange rate," the report said.
"Argentinean banks' exposure to government and central bank debt – mostly denominated in local currency – has recently increased and poses systemic risks for the financial sector."
Argentina: Banks' Debt Risk https://graphics.reuters.com/ARGENTINA-ECONOMY/gdvzqyqzzpw/chart.png
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EUR/USD
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USD/CAD
1.3780
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EUR/JPY
168.32
+0.10 (+0.06%)
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EUR/CHF
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Sell (9)
Silver Futures
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Sell (10)
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Sell (9)
Copper Futures
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Sell (2)
Indicators:
Buy (8)
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81.14
-0.79 (-0.96%)
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Sell (12)
Indicators:
Buy (1)
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Brent Oil Futures
85.62
-0.71 (-0.82%)
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Sell (11)
Indicators:
Buy (1)
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1.946
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Sell (12)
Indicators:
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Sell (9)
Indicators:
Buy (0)
Sell (10)
Euro Stoxx 50
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Sell (8)
Indicators:
Buy (1)
Sell (7)
S&P 500
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Sell (12)
Indicators:
Buy (0)
Sell (7)
DAX
17,921.95
-196.37 (-1.08%)
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Sell (12)
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17,763.03
+16.12 (+0.09%)
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Sell (12)
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Sell (6)
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-42.98 (-2.13%)
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IBEX 35
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-246.40 (-2.22%)
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BASF SE NA O.N.
49.155
+0.100 (+0.20%)
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Sell (12)
Indicators:
Buy (1)
Sell (7)
Bayer AG NA
27.35
-0.24 (-0.87%)
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Sell (12)
Indicators:
Buy (0)
Sell (8)
Allianz SE VNA O.N.
266.60
+0.30 (+0.11%)
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↑ SellMoving Avg:
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Sell (12)
Indicators:
Buy (3)
Sell (5)
Adidas AG
226.40
-5.90 (-2.54%)
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↑ SellMoving Avg:
Buy (0)
Sell (12)
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Buy (2)
Sell (7)
Deutsche Lufthansa AG
6.714
-0.028 (-0.42%)
Summary
NeutralMoving Avg:
Buy (3)
Sell (9)
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Buy (9)
Sell (1)
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175.90
-1.74 (-0.98%)
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↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (9)
Deutsche Bank AG
15.010
-0.094 (-0.62%)
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NeutralMoving Avg:
Buy (4)
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Buy (6)
Sell (2)
EUR/USD | 1.0658 | ↑ Sell | |||
GBP/USD | 1.2475 | ↑ Sell | |||
USD/JPY | 157.91 | ↑ Buy | |||
AUD/USD | 0.6469 | Neutral | |||
USD/CAD | 1.3780 | ↑ Buy | |||
EUR/JPY | 168.32 | ↑ Buy | |||
EUR/CHF | 0.9808 | Neutral |
Gold | 2,295.80 | ↑ Sell | |||
Silver | 26.677 | ↑ Sell | |||
Copper | 4.5305 | ↑ Buy | |||
Crude Oil WTI | 81.14 | ↑ Sell | |||
Brent Oil | 85.62 | ↑ Sell | |||
Natural Gas | 1.946 | ↑ Sell | |||
US Coffee C | 213.73 | ↑ Sell |
Euro Stoxx 50 | 4,920.55 | ↑ Sell | |||
S&P 500 | 5,035.69 | ↑ Sell | |||
DAX | 17,921.95 | ↑ Sell | |||
FTSE 100 | 8,144.13 | Sell | |||
Hang Seng | 17,763.03 | ↑ Sell | |||
Small Cap 2000 | 1,973.05 | ↑ Sell | |||
IBEX 35 | 10,854.40 | Neutral |
BASF | 49.155 | ↑ Sell | |||
Bayer | 27.35 | ↑ Sell | |||
Allianz | 266.60 | ↑ Sell | |||
Adidas | 226.40 | ↑ Sell | |||
Lufthansa | 6.714 | Neutral | |||
Siemens AG | 175.90 | ↑ Sell | |||
Deutsche Bank AG | 15.010 | Neutral |
Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
---|---|
SJC Eximbank | 8,300/ 8,500 (8,300/ 8,500) # 1,298 |
SJC 1L, 10L, 1KG | 8,300/ 8,520 (0/ 0) # 1,510 |
SJC 1c, 2c, 5c | 7,380/ 7,550 (0/ 0) # 540 |
SJC 0,5c | 7,380/ 7,560 (0/ 0) # 550 |
SJC 99,99% | 7,370/ 7,470 (0/ 0) # 460 |
SJC 99% | 7,196/ 7,396 (0/ 0) # 386 |
Cập nhật 01-05-2024 10:45:19 | |
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ↀ Giá vàng thế giới | ||
---|---|---|
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ʘ Giá bán lẻ xăng dầu | ||
---|---|---|
Sản phẩm | Vùng 1 | Vùng 2 |
RON 95-V | 25.440 | 25.940 |
RON 95-III | 24.910 | 25.400 |
E5 RON 92-II | 23.910 | 24.380 |
DO 0.05S | 20.710 | 21.120 |
DO 0,001S-V | 21.320 | 21.740 |
Dầu hỏa 2-K | 20.680 | 21.090 |
ↂ Giá dầu thô thế giới | |||
---|---|---|---|
WTI | $80.83 | +3.39 | 0.04% |
Brent | $85.50 | +3.86 | 0.05% |
$ Tỷ giá Vietcombank | ||
---|---|---|
Ngoại tệ | Mua vào | Bán ra |
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EUR | 26.475,36 | 27.949,19 |
GBP | 30.873,52 | 32.211,36 |
JPY | 156,74 | 166,02 |
KRW | 15,92 | 19,31 |
Cập nhật lúc 10:45:15 01/05/2024 Xem bảng tỷ giá hối đoái |