BCRA bought strong after “thawing” the official

BCRA bought strong after “thawing” the official
November 16, 2023 – 00:00

The Central acquired US$121 million, the highest daily amount of the month. In this scenario, the MEP advanced 1.6% and the blue rose $45, to $970. But the CCL lost 0.3%.

The official dollar rose $3 (0.86%) to $353.05 yesterday, the day defined by the Government to end the freeze and return to the regime of daily micro-adjustments called “crawling peg”, as it had agreed with the International Monetary Fund . This happened after three months passed on Tuesday since the devaluation of close to 20% applied to the peso, a measure taken the day after the August PASO at the request of the IMF.

In this context, the Central Bank accelerated foreign currency purchases and managed to acquire US$121 million, the highest daily amount in November. In this way, he extended his streak to 17 positive days in a row. Furthermore, so far this month the balance in favor exceeded US$286 million and raised the daily average to more than US$28 million.

Meanwhile, the MEP dollar rebounded after registering two consecutive falls, while the Cash with Settlement (CCL) fell again and accumulated its third decline in a row four days before the presidential runoff, in a context of economic and political uncertainty.

The MEP rose $13.93 (1.6%), to $882.35, after falling more than $13 in the two previous rounds. In fact, the gap with the official was 150%. Thus, this exchange rate exceeded that used by companies to withdraw foreign currency from the country, just as it had done last Friday, November 10.

For its part, the CCL dollar lost $2.24 (0.3%), to $873.04. In this way, the spread with the official one stood at 147.4%.

In the illegal market, amid raids in caves, the blue dollar advanced $45 to $970, after having started the week on the decline. Thus, the gap between the informal exchange rate and the official wholesale rate was 174.8%.

The blue had climbed $70 between last Thursday and Friday, but then gave up $35 on Monday and remained unchanged on Tuesday.

Source: Ambito

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