Argentine Dollar Bonds Fall After Ban on Saving in Dollars
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Argentina’s local law dollar bonds dropped the most in almost a month after the central bank barred individuals from buying U.S. currency for savings, deepening foreign-exchange restrictions.
Government bonds due in 2015, known as Bodens, dropped 2.13 cents to 78.33 cents on the dollar at 6:26 p.m. Buenos Aires time, the most since June 11. The extra yield investors demand to own Argentine government bonds over U.S. Treasuries rose 18 basis points to 1,071 basis points, the biggest increase in JPMorgan Chase & Co.’s EMBIG index.