In any case, there is speculation that the definition of the future exchange rate scheme will depend on who wins the runoff next Sunday.
This Friday Expires the rule that made it possible for exporters to liquidate 30% of your cash sales with liquidation (CCL) and the 70% to the official market and will not be renewed, as confirmed by a high source from the Ministry of Economy to Ambit. Furthermore, he announced that The US$5 billion of the second tranche of the swap with China will be activated with the consequent positive impact on reserves.
In any case, it is speculated that the definition of the future exchange rate scheme It will depend on who wins the runoff next Sunday.
“The Government is going to have to make some definition,” held Santiago Manukian in conversation with Ambit. The economist from the consulting firm Ecolatina explained that, once this exchange rate scheme is over, two problems would arise.
The first is that the liquidation of currencies was encouraged by the dollar about $500, much higher than the $350 plus the crawling peg that would begin to govern. And the second would stop entering the CCL the 30% that is settled today “therefore, “There would be less supply in this market which could mean a risk for the transition” to the new government.
The export incentive regime, which allows all sectors that sell their products abroad to settle 30% of their operations in the cash settlement dollar (CCL) and 70% in the official dollar, allowed the Central Bank to buy reserves. Yesterday the entity acquired US$121 million and It has been accumulating foreign currency for more than US$900 million for 17 consecutive rounds.
The rule applies from on October 24 and at that time the CCL was around $1,000, from which exporters obtained an exchange rate of $540. On the rear wheels there was a decline in the financial dollar which leads to the parity today being close to $500.
Source: Ambito
