In this way, gross reserves closed May at US$41,560 million, which implied a fall of US$445 million against the end of April.
“Attention continues to be focused on the BCRA’s ability to accumulate reserves in the remainder of the quarter, not only to meet the IMF’s goal but also because the exchange balance would be less favorable later,” said a market analyst. .
Meanwhile, the first review by the IMF of the commitments assumed by the country in the new agreement signed in early March is progressing, which also includes reducing monetary assistance to the Treasury and lowering the fiscal deficit. The result of the first quarter audit, which would have been exceeded, will soon be known. “We continue to work virtually towards the first review of the program. Progress is being made at a good pace and we hope to communicate soon about the conclusion of the mission,” an IMF spokesman told Reuters.
In April, the BCRA bought US$161 million from the market, while during the first quarter of the year the result was negative by US$48 million, according to data from the entity.
“We are in a rather strange situation, in the sense that today it is not that the field is not liquidating, and exports are hitting record. Even everything is being liquidated smoothly, but the problem is that dollars are not accumulating,” said Nicolás Chiesa of Portfolio Personal Inversiones (PPI). “And if at a time like this – with seasonality in its favor – the central bank cannot accumulate reserves, the concern for the coming months is growing,” he said.
official dollar
Meanwhile, the wholesale dollar rose 19 cents to $120.20 yesterday. During May, it registered an advance of 4.2%, the most important monthly rise in the Alberto Fernández era. All in all, it was around one point below the estimated inflation for this month.
In the year, the official exchange rate accumulated a rise of 17.02%, also far from the rise accumulated in the same period of the consumer price index despite the gradual acceleration of the rate of depreciation.
For its part, the savings or solidarity dollar -which includes 30% of the COUNTRY tax and the 35% deductible of Earnings- rose 23 cents to $207.27 on average.
parallel dollars
The “cash in cash” (CCL) -operated with the Global GD30 bond- fell 0.6% yesterday to $210.51, so the gap with the wholesale price of the dollar stood at 77.1%. During May, the so-called cable dollar registered a slight rise of 1.7%.
The MEP dollar -also valued with the Global 2030- fell 0.9% to $207.35, leaving a spread with the wholesaler of 72.5%, the lowest in almost six weeks. During May, this exchange rate registered a small advance of 0.7%.
Finally, the blue dollar registered its most important monthly advance of the year in May, increasing $6.50, although it ended below the solidarity figure, according to a survey by Ámbito in Buenos Aires caves. The informal price, which fell $1 during the session, ended at $207.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
