Said index is an indicator that can serve as a reference for the correct formation of prices of the agricultural businesses. It represents the weighted average of the BNA Buyer Dollar and the CCL Matba Rofex Index for the day of calculation, based on current regulations, and It will have historical data from December 13, 2023, the effective date of the current scheme.
“The Matba Rofex Export Dollar Index is useful for the entire economy and reinforces the value of the transparency generated by the markets,” highlighted Andrés Ponte, president of Matba Rofex.
Agricultural dollar: how the new index is built
The new index is built based on two sources:
Dollar BNA Buyer: reference exchange rate used for grain trading operations.
CCL Matba Rofex Index: financial indicator prepared by Matba Rofex in accordance with the IOSCO principles for financial benchmarks, which aims to reflect the value of the Cash Dollar with Settlement. It began to be published in February 2020 and has 4 years of history, which translates into a transparent and robust price series.
Its reference value can be consulted every day on the Matba Rofex institutional websitestarting at 4:15 p.m.
Futures contracts open on Matba Rofex They will not have any modification. However, the market is working on launching a new operation that has settlements associated with the Export Dollar Index.
The Cereal Exchange Announcement
In the same line, the Cereal Bag will also begin to publish it, as he argued, for the “low volume and the controversy generated by the exchange rate used in the operation of forward contracts”.
This reference, as they argued, may be used to conclude new forward contracts for grains and/or oilseeds.