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The dollar recorded the largest monthly decline since October and closed under the zone



He tuned in with him Simple and Free Stock Market (MULC), where the currency fell by 16 cents $ 37.35 and accumulated a loss of 35 cents in January, which are located below the zone of non-intervention that the central bank has set today 37,860 USD and 48,995 USDThe monthly decline in the wholesale segment occurs despite the fact that the central bank has had $ 560 million in purchases to avoid currency delays, which the operators could not concretize.

We must not lose sight of the fact that, according to the Ambito Financiero report, the market was cheaper to lose today or tomorrow the Central Bank's decision to increase the amount of daily purchases from the current $ 50 million. , which at the moment did not have much influence on the square, to the $ 150 million originally planned under the new monetary policy regime.

"They are expected to have an impact on the expansion of US central currency purchases, which would be assessed as well as the recent strategy of accelerating the rate of cuts that would allow the dollar to be set up within the group," said economist Gustavo Ber.

Also the currency authority that was on the wheel today Liquidity Texts (Leliq) for $ 145,000 million for an average rate at significantly lower levels 53.687% a seven-day year (closed on Wednesday at 54.889%). The maximum allocation rate was 54% and a minimum of 51.999%.

"All emerging markets are strengthening against the dollar because of a decision of the Federation that did not hit interest rates yesterday", highlighted by ABC Mercado de Cambios.

It should be noted that Federal Reserve System of the United States He maintained stable interest rates on Wednesday, but said he would be patient in rising credit costs this year, and points to growing uncertainties about the US economy's outlook.

While they claimed from Delphos Investments that "this week was a turning point for the pesos problems that led to the current good financial situation." In January there was a recovery in demand for pesos, concentrated in demand for money speculative. "

And they delivered it "This was reflected in a slowdown in the growth of time deposits that they achieved (6.5% up on a month earlier and a renewed taste for private placement in the pesos, leading to an increase in the volume of the issue and a reduction in the required returns",

It should be noted that the currency has now abandoned its positions along with a very active offer that has dismantled the resistance offered by the demand for coverage. The lowest trades were recorded at $ 36.90 shortly after the start of operations, while in the last hour of trading, securities declined with greater intensity and touched a maximum of 37.35 USD.

According to Gustavo Quintan, of the PR Corredores de Cambio, the dollar's fall "somewhat contradicts analysts' forecasts, who expected development more in line with official guidelines setting the values ​​of the official non-intervention zone."

He also said it "The steady declines in the currency rate set by the central bank had no effect on the dollar's development, which maintained a weak trend whose abolition seems to be unlikely in the short run",

The decline of the currency on the local market is in line with the region. So much so that it reached 0.9% in Brazil on Thursday; in Chile, 1.9% and 0.4% in Mexico.

Dollar in the world

The dollar weakened on Thursday after The Federal Reserve System has pledged to be patient in its interest rate growth cycle in the United States, the ad that managed the euro.

As expected, the Fed kept a steady rate on Wednesday, and in a formal policy change it said it would be patient in the face of any further increase due to growing uncertainty in the United States.

The dollar index lost about one 0.2%, for at least three weeks 95,16. In previous operations, he lost 0.4%.

Other Markets

On the money market between banks with call money was operated on an average of 44%.

IN ROFEX There were $ 1,785 million, of which over 45% was agreed between January and February, ending at $ 37,06 and $ 38,60 at the end; with a final rate of 47% until it stops working in January at 2:30. March closed at 39.75 USD at 39.75%. Prices were low in the $ 0.25 environment, which was accompanied by a drop in the spot.

On the informal square, in turn blue fell by 75 cents on $ 37.50 and is consolidated under the official prize, according to a survey of the media in caves in downtown Buenos Aires. Meanwhile, "contad con liqui" on Wednesday gave nine cents to $ 37.41.

Finally, Reserves of the central bank US $ 39 million dropped this Wednesday to $ 66,406 million.


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