After a new day of strong climb, the dollar is He approached the ceiling of the flotation bandwhich is located today at $ 1451. The pressure on the American currency is maintained and, before a lower supply and the demand that is still maintained with the rise of interest rates in pesos, The upward trend could be sustained in the next few days.
The dollar touched on Thursday the $ 1,380 For the sale, the National Bank – he ran $ 55 compared to the previous day – and so far in July already accumulates a rise of 14%.
If the values of this day are taken into account, The officer was 5.6% below the upper band of $ 1,451.5 (Remember that it is adjusted to a rhythm of 1% monthly) and 50.6% above the floor of the flotation band of $ 964.1 (It decreases at 1% monthly). And if the center of the band is taken to $ 1,208.7, the current value is above 13.6%.
For its part, the contracts of future dollar They also registered important generalized rises on Thursday. This way, The price of the foreign currency was $ 1,528which implies that would be above the ceiling of the flotation band that, by climbing 1% monthly, By the end of the year around $ 1,526 would be located.
In particular, the August contract was the one that climbed the most, to $ 1,406, which implies an increase of 4.3%. Was followed by September, with the 3.5% advance, at $ 1,438. Subsequently October rose 3.2% to $ 1,465while November ascended 2.3% at $ 1,489and finally December, grew 1.7% to $ 1,525.
What happens if the dollar reaches the ceiling of the flotation band
According to the program signed with the IMF in Aprilby the current price of the exchange rate, the Government, through BCRA or National Treasuryought Sell dollars to absorb liquidity and avoid excessive monetary expansion.
The new exchange policy scheme was one of the central points of the agreement signed by the Executive Power with the Fund at the beginning of this year to enable the initial turn of US $1,000 million. At that time, the bands were established between $ 1000 and $ 1400 pesos, with a monthly extension of 1%, both for the upper and lower limit.
The President Javier Milei He had predicted that the currency would be located on the band’s floor and only then would buy reservations, with the aim of not pressing the type of changes or generating inflation. However, while the dollar moved away from the lower end, in June the Treasure It started with currency purchases (they were around US $ 1000 since July 21), just when a mission IMF technique was in Buenos Aires.
Source: Ambito
