The monetary authority squeezed the pegs again and imposed new restrictions for human people. The minister justified the measure claiming that it was a strategy that benefited “20 people.”
The Minister of Economy, Luis Caputo, He defended the “rulo” restriction with the CCL established this Friday. “A kiosk of a few who arbitrated the two markets were cut”he said. This measure benefits “all Argentines” because, among other issues, it helps to rebuild the reserves of the Central Bank (BCRA), he said.
“It is a good measure because it favors Argentines. We did it to rebuild reserves. Yesterday what liquidated the field could only buy 25%. Today, with this measure, it bought 77%. That is, we buy US $ 1,345 million, from a total of agriculture that liquidated US $ 1,745 million, “he explained Caputo.
“We are talking about 20 people“said the minister in an interview in TN, in reference to who would be those affected by the measure that prevents actors from buying dollars in one market and selling them in another and obtaining a gain for price difference.
The Minister of Economy was optimistic with the results of this new restriction. He predicted that in the next few days the BCRA will continue to add reservations, one of the pending accounts of the last agreement with the IMF. “This is going to be the same Monday and Tuesday when they continue to liquidate. The solidity of the treasure is strengthened, the balance of the BCRA, all Argentines are favored“, held Caputo.
Regarding inflation, the minister said that the increase in the dollar did not move at prices. “We are not seeing an increase in inflation,” He assured and insisted that the population situation improved in the government of Javier Milei. “People always cost to reach the end of the month. The fair comparison is with December 2023. I think it costs less. At least, most. In fact, there are 12 million Argentines that we get out of poverty, “he said.
How is the “rulo” of the dollar that the BCRA seeks to stop with the new restriction
He Central Bank tightened the pegs on the remainder of the stocks for access to the dollar, In this case, with the idea of cutting what is called “Rulo.”
The operation consists of buying dollars in one market and sell them in another and obtain a gain for price differenceand the context is that of the liquidation of US $ 7,000 million of cereals in a short time. The turnaround to the market of that important offer, quickly, can generate a decrease in contributions, What can enable the curlers.
You have to have in Account that for the purchase or sale of dollars through financial markets you have to wait for at least 24 hours Because these are bond purchase operations, strictly speaking.
Thus, in a context in which prices can fall accelerated in the case of the official dollar, Financial reactions can delay, which would enable the speculative maneuver.
While the government eliminated most of the restrictions to access the American ticket, some restrictions still persist. One of them was The impossibility of operating in a cross way among markets only for companies.
Now the Central Bank also decided to include natural persons. This has probably to do with an action that was detected lately, and that is that companies operated as people with dollars and passed them to CCL . Hence, an increase in the formation of external assets (FAE) or better known as “capital leak” was found in recent months.
Source: Ambito
