FX firm Argentex suspends trading of shares, hurt by market volatility

LONDON, April 22 (Reuters) - Shares of British currency risk management firm Argentex AGFX.L were suspended from trading on Tuesday after the company said it had seen a significant worsening in its liquidity position due to the sharp fall in the U.S. dollar.

"Argentex has been exposed to significant volatility in foreign exchange rates... as a result (it) has experienced a rapid and significant impact on its near term liquidity position, driven by, inter alia, margin calls linked to its FX forward and options books," the company said in an exchange filing.

It said it had the support of its principal liquidity provider and was looking to strengthen its position, but "in the event that the volatility in currency markets worsens materially, then the company's financial liquidity position, if not strengthened in the near term, would be significantly stretched."

Global markets have been wracked by volatility this month, as U.S. President Donald Trump's haphazard tariff policy has heightened uncertainty over the economy.

Argentex said it had been particularly exposed to "the rapid devaluing of the U.S. dollar against other major benchmark currencies."

The dollar has hit its lowest in three years against a basket of major currencies and is set for its worst performance in the first four months of the year in 50 years, according to LSEG data. FRX/

Analysts say its decline is a result of global investors selling U.S. assets due to worries about the health of U.S. companies and the economy .DXY

Argentex describes itself on its website as a "global expert in currency risk management and alternative banking", and offers clients strategies for hedging their currency risks as well as payment services.

Its shares were suspended on Tuesday but have logged a gain of 50% so far in 2025.