Saturday , April 1 2023

After the BCRA auction, the $ 50 million dollar is almost at a stable level of $ 38.07


In the auction, the average purchase price was $ 37,0368 and the maximum bid was $ 37,050.

Yesterday, the Central Bank bought another $ 50 million and caused the dollar to rise after three consecutive falls, although this improvement did not significantly reduce the distance between the wholesale price and the lower bound of the non-intervention zone.

The Single and Free Exchange (MULC) developed only 10 cents to $ 37 following the participation of the monetary authority in Siopel. The auction's average purchase price was $ 37.13 and the maximum bid was $ 37.14.

Despite this increase, the currency continues under the intervention band, which today stands at US $ 37.45 and US $ 48.47. "We should not think that the current depreciation of the dollar is a strong trend that has remained, nor that the current monetary plan has credibility and achieved all the desired results in terms of exchange rate stability and inflation," he said. Economic and regional consultations.

The prices had a mixed route that showed the initial increase that was diluted across the wheel. The pressure of outstanding supply ultimately reduced the entire opening profit by adjusting the values ​​with a very discreet increase, which in any case kept the quotation quite far from the lower bound of the official non-intervention zone.

The demand for coverage became strong in the first part of the day, pushing a price that touched a peak of $ 37.21 over this period, thirty-one cents above the previous one.

Subsequently, the slow but steady re-emergence of the supply reduced the initial pressure by diminishing values ​​that were highlighted by the official auction. Foreign income earned sales orders by forcing a retracement that almost closed the closing date when trading $ 36.97.

In the offer grain exporters pay an average of $ 85 million for wheat harvest.

Analyst Gustavo Quintana stressed that "the improvement in investment has not reached a significant limit on the distance that separates it from the lower bound of the official non-intervention zone, and maintains it at a lower level than expected in the first month of the month".

At the same time, the Central Bank approved another Leliq rate cut, which is the seventh consecutive year, in which it granted USD 172,096 million (193,244 million). The execution of liquidity letters by the monetary authority covered 58%, averaging 57.80% per annum, 0.306 percentage points less than last Friday.

On the other hand, in the informal market according to a survey of this media porteño microcentro caves, the blue dose of 25 cents to $ 39.. In contrast, "contad con liqui" fell by 20 cents to $ 36.89.

Other markets

The money on the money market between banks was on average 52%. In foreign exchange swaps, $ 200 million was accepted to take and / or place funds in pesos using Tuesday and Wednesday purchases in dollars.

USD 472 million was negotiated on the Rofex futures market, of which more than 55% was achieved in January and February for USD 37.78 and USD 38.986 at a rate of 45.26% and 43.54%.

Despite daily purchases, Central bank reserves fell on this Monday at U $ S $ 78 million for $ 65,958 million as "BIRAE 22/23/27/28 services paid for $ 226 million were made to international organizations. $ 6 million and transaction payment $ 4 million made through the SML system.

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