A) Yes, during November the decrease in reserves reached US $ 1,267 million, the highest loss level of the year, amid strong demand for exchange rate hedging, fueled by expectations of devaluation prior to the elections, and anticipation of imports.
It should be remembered that in August the coffers of the monetary authority had risen to US $ 46,317 million after the arrival of the IMF SDRs, although the disbursement was used to cancel maturities with the agency in September, for which the figure quickly returned to the area of $ 43,000 million.
Previously, between December 2020 and July, reserves had registered a continuous improvement due to the inflow of foreign exchange from exports in the context of high commodity prices.
It is worth clarifying that part of this income was used to intervene in the price of the Dollars financial and contain the gaps. The BCRA stopped carrying out this type of operation after the legislative elections.
In this framework, net reserves are around US $ 5 billion. “In December, the liquidation of the fine harvest begins, with an estimate of foreign exchange earnings of the order of US $ 3,500 million,” sources from the BCRA anticipated.
Source From: 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.
