Argentina-Fall in value of peso.

ARGENTINA-PESO DROPS.

Stocks, currency and bond market trends yesterday: the peso fell to its lowest level since 2002 on the formal market amid strong dollar demand from companies worried the currency may weaken further, traders said. In formal exchange between banks, the peso retreated 0.13 percent to $3.72/$3.7225 per dollar.

In informal trade between foreign exchange houses as measured by Reuters, the peso shed 0.07 percent to end at 3.7425/3.7475.

The MerVal stocks index followed Wall Street higher, climbing 2.15 percent to 1,270.16 points. US stocks climbed after the Federal Reserve said the economic outlook in the United States had improved modestly since its last meeting in March.

Buenos Aires-listed shares of Brazil’s state-run energy company Petrobras gained 4.29 percent to 64.4 pesos per share.

Prices for government bonds traded over the counter in Buenos Aires rose 0.5 percent on average, helped by the gains on Wall Street.

Peso-denominated Par bonds rose 1.2 percent, according to the ask price.