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Financial News: ARGENTINA: Merval Breaks 28,000 Points On Reforms And

ARGENTINA: Merval Breaks 28,000 Points On Reforms And GDP Data

12/20/2017 - 22:41:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, rose 1.36%, closing at 28,083.92 points, boosted by the approval of the pension and tax reforms, both earlier this week.

The provisional estimate of Argentina's Gross Domestic Product (GDP) in the third quarter of 2017 presented an increase of 4.2% when compared to the same period of 2016. Meanwhile, considering seasonally data adjusted, the Argentinean economy grew 0.9% over the second quarter of 2017, said the South American country's statistics office.

Meanwhile, the locally traded U.S. dollar closed with a 0.33% rise, at 17.76 Argentinean pesos, amid mixed signs in the local market.

"The greenback showed high volatility due to constant trend changes in the session," said Gustavo Quintana, an analyst at PR Corredores.

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