how much does it operate at this Friday, October 4

how much does it operate at this Friday, October 4

Credit in dollars grows: Luis Caputo embraces an “inflated supply” of foreign currency as a bridge to the end of the year

By Juan Strasnoy Peyre

Luis Caputo is betting that the dollars that entered the laundering process will be recycled via dollar credit to the private sector, to inflate the supply of foreign currency in the official market and give oxygen to the Central Bank in the most challenging months of the last stretch of the year.. Some of that is already corroborated. Since mid-Augustwhen the regularization of assets and the rally in foreign currency deposits were activated, this type of bank loans to companies expanded by almost US$1 billion. This allowed the BCRA to end September and begin October with a purchasing balance, despite seasonal pressures and the new import payment scheme.

The ceiling of the increase in financing in foreign currency to companies is given by the strong growth in dollar depositswhich since the beginning of laundering has accumulated US$12,839 million. As the banks progressively send those foreign currencies deposited to the BCRA as reserve requirements, the regularized money will shore up the Central Bank’s gross reserves.

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Source: Ambito

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