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BCRA returns and adds reserves, while the dollar fails



In another round with a bearish tendency, the central bank dared purchases of $ 75 million at the beginning of the operation, while the US currency continues to shift away from intervention without intervention.

Chairperson Guido Sandleris bought $ 25 million on the wholesale market on average 37 798 USD and others $ 50 million at noon, an average of $ 37.7986 with which purchases are purchased $ 960 million yet this year.

On the square wholesale the dollar is offered $ 37.82, down 9 cents on Monday. The noninvasive region is delimited and Floor $ 38,182 and a ceiling of $ 49,412, while on Wednesday it will rise to 38,209 pesos.

For the public, the currency is sold $ 38.60 at the Banco Nación branches and on average $ 38.93 in a bank in downtown Buenos Aires.

The dollar is run with sudden price fluctuations on the stock market in the week when the dollar mission is present. Monetary fund International (IMF) to monitor the progress of the agreement download, with various meetings with officials.

"IN Ministry of Finance They said it was a meeting of the program's next steps, which the country is implementing in agreement with the financial agency. However, according to rumors, as part of the debate on how the area will develop without intervention in which the central bank should let the dollar float freely, the government has stated its intention narrow the gap between the minimum and the maximum that defines the interchangeable belt dominated the dollar at the polling day"the report from Personal portfolio investment,

In the same sense it turned out that the government would look define with the IMF "monetization of dollar purchases" this is done by the central bank and eventual sterilization of the weights that arise as a result of these interventions, in order to limit inflation.

In February, it acquired a central bank $ 400 million, p a currency number for this concept of $ 14,986.2 million, which extended the Currency Base target to 1,386,681 million pesos in March. This is due to agreement with the fund It allows you to expand the monetary base by issuing weight to get the currency under the band free movement.

The central bank completed in January and February and significant interest rate cuts by 14 percentage points, while it managed to meet its monetary base target at a time when the dollar remained stable.

However, economist Gustavo Ber noted that "it would not only offer a global climate greater volatility but also electoral uncertainty domestic market for which investors should have privileged prudent positions, including a greater dollarisation of portfolios to prevent shocks. "

According to UADE, Argentina is one of the countries of Latin America, where banks charge the highest commissions for the purchase and sale of dollars, deepening after two severe devaluations in 2018. This is reflected in the price gap of buying and selling foreign currency for the savings bank.

In this sense, Argentina represents the highest commission in the region with 4.92%Follow Uruguay and Mexico with a commission of 4.39% and 4.25%. Below are Chile with 3.03% and Colombia with 3.21%.


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