December 24, 2008 / 5:23 PM / 12 years ago

Argentine bonds, peso slip in quiet trade

BUENOS AIRES, Dec 24 (Reuters) - Argentine bonds dipped and the peso weakened slightly on Wednesday in very thin trade ahead of Thursday’s Christmas holiday, traders said.

On the local market, sovereign bond prices slipped 0.2 percent on average in over-the-counter trade, with the dollar-denominated 2033 Discount bond ARDISCD=RASL falling 1.1 percent to an ask price of 31.15.

Bonds retreated after five straight sessions of gains, in which they rose a cumulative 6.1 percent.

On the foreign exchange market, the peso ended weaker, slipping 0.07 percent to 3.4350/3.4375 per U.S. dollar in formal interbank trade ARS=RASL on minimal private purchases of safe-haven greenbacks, traders said.

In informal trade between foreign exchange houses, as measured by Reuters, the peso weakened 0.14 percent to close at 3.450/3.455 per dollar ARSB=.

In recent days, the central bank has led dollar purchases to keep the peso from firming in a context of depreciating currencies elsewhere in the region.

Argentina’s bond market closed early for Christmas Eve. The stock market was closed on Wednesday and will resume normal activity on Friday, after Christmas. (Reporting by Jorge Otaola; Writing by Hilary Burke; Editing by Jonathan Oatis)

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