Argentina's Ministry of Economy has called a new bond swap to preempt potential market movements that could cause dollar exchange rate fluctuations. The ministry proposed a swap of dollar-linked letters, which mature on January 30, for other instruments maturing in February, April, and June. The amount involved reaches 6 trillion pesos, according to Noticias Argentinas news agency. 'Following the January 7 tender, the objective of this new tender is to continue providing tools to facilitate the rollover of dollar-linked hedging instruments, minimizing arbitrage of the TC A3500 fixing,' the Ministry of Economy said in announcing the operation. The swap will be held tomorrow, and participants can choose one or all of the options. Two weeks ago, the government conducted a similar operation, delaying the January 16 maturity by only two weeks. In that instance, 3.4 trillion pesos were swapped, representing 64.19% of the nominal value in circulation.
