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Home Argentine Politics and Economics Begins the first Letes tender of the year in which only dollars will be accepted

Begins the first Letes tender of the year in which only dollars will be accepted

This is the first placement of the year and is done with the new system.

Politics and Economics
letes

This is the first placement of the year and is done with the new system whereby, the letters in dollars must be purchased with that currency, and not with pesos, at the official exchange rate that was quoted the day before in the wholesale market, as it was traded until December.

In the current tender, the dollar bills will have a maximum tendering price, the restriction to award in the non-competitive tranche a maximum amount of 100% of the amount awarded in the competitive tranche and, on the other hand, it was determined that tenders submitted in the non-competitive tranche shall be limited to an amount maximum of US$ 50,000.

For the purpose of participating in the competitive tranche, prices must be expressed for every US$ 1,000 of original nominal value with two decimal places.
The maximum price for Treasury Bills in US dollars will be US$972.54 per USD 1,000 face value, which is equivalent to an annual nominal rate of 4.75%.

Source: Telam

Publication Date: 07/01/2019

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