The dollar started tenth day under the band nonintervention. Within a few hours when the Monetary Policy Committee decides whether to increase and how much it will be allowed to buy a foreign currency, and thus to grow demand, it will inject more pesos and the dollar will go down a strong drop of 48 cents to $ 37 on the wholesale marketThe base of the exchange intervention group is $ 37.61.
The central bank went to buy early. She earned $ 50 million for an average price of $ 37.08, a maximum of $ 37.10. Since January 10, when purchases began, has reserves of $ 560 million,
Meanwhile, in retail market, the dollar will drop by 50 cents to $ 37.90 in Banco NaciónOn Wednesday, the currency closed at 38.59 USD, according to the average of the banks. These are values that have not been seen since last December 3.
The dollar followed the same path as in the rest of the countries in the region where all currencies – from Brazil to Mexico – were revalued.
The fall of the dollar in Latin America is linked to the statement of the United States Federal Reserve System, which decided to maintain a cautious position to raise rates. The Fed kept the base rate unchanged and, in addition, excluded the reference to "gradual upgrading" in its statement, which indicated a flexible approach to reducing the bond portfolio and suggested that further rate movements could even be cut.
Optimism for emerging markets after the US central bank's decision also affects the country's risk, which drops by 0.87% to 683 points. This means that there is a difference of 6.83% between Argentinian bonds and the United States, considered to be the safest. Ten-year US Treasury Bonds also fell to 2.67%.