Diario Financiero published today a note on the different scenarios that the market is considering for this Sunday's plebiscite, among which is a more comfortable victory of the "against" side. Fynsa pointed out that, in this case, "the IPSA would react strongly downwards, the exchange rate would return to above $900 and we could see some pressure from long rates, due to greater potential indebtedness and credit risk".

On the other hand, we foresee that an eventual "in favor" victory "would leave the IPSA closer to its fundamental value around 6,500 points, and the exchange rate would approach the $840-$850 range".