Market sources estimated that the treasure intervened with US $ 285 million this Friday. As a consequence, the official dollar closed downwards, after operating for almost the entire rise wheel.
After operating for almost the entire wheel on the rise, The official wholesale dollar closed this Friday, September 5 with a daily setback of $ 7.50 to finish at $ 1,355, due to the official intervention both in the official exchange market (MULC) and in the futures. Even so, the currency added a new weekly advance in the previous legislative elections in the province of Buenos Aires.
Regarding last Friday, the exchange rate grew $ 13 (+1%). “As expected there was a lot of pressure on the ticket in every way. The Mulc operated more than US $ 550 million, where the treasure would have sold US $ 280 million,” said financial analyst Nicolás Cappella about what happened in this last wheel. In the same vein, Gustavo Quintana, of PR Racdores de Change, indicated that there was apparently a Intervention of US $ 285 million.
Thus, In the week it is estimated that the government used approximately US $ 500 million to To contain the price of “green ticket”which at the beginning of the week came to exceed $ 1,370. Officially, a sale of almost US $200 million was already reported on Tuesday and a purchase of US $30 million on Wednesday, while between Thursday and Friday new sales (not confirmed yet) for US $ 330 million would have been added.
With these figures, Treasury deposits in the Central Bank (BCRA) would be located around US $ 1,126 millionin a month in which US $ 700 million expires with international organizations. Without taking into account these obligations, this week’s daily sales rhythm I would reach to cover just nine business days With the treasury’s own resources, so it should then resort to the dollars of the International Monetary Fund (IMF) if the strategy is maintained and there is no relevant currency income in the middle.
The intervention extended to the future dollar market
In parallel, a strong official participation in the market of futures. Financial analyst Salvador Vitelli stressed that the Open interest (number of current contracts) increased by US $ 200 millionof which US $ 146 million corresponded to the shortest contract
Indeed, on the last minutes of operation in the market, strong movements were seen within the end of September, whose Price diminished at $ 1,389, after having marked the earlier $ 1,415. This decline allows some sale in the Mulc, pressing the downward price, and then buying futures at an artificially cheap price.
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Meanwhile, the Retail dollar quoted $ 1,386.80 For sale In the average of the financial institutions published by the Central Bank (BCRA). In it Nation Bank (BNA), For its part, the ticket operated to $ 1,340 For purchase and $ 1,380 For sale. Thus, the dollar card or tourist, equivalent to the official retail dollar plus a surcharge of 30% deductible from the income tax, was located in $ 1,794.
Among the parallels, the MEP dollar rises 0.2% and quotes $1,380.44while the dollar counted with liquidation (CCL) advances 0.3% and is sold to $ 1,385.01. Also, the dollar Blue closed to $ 1,370, according to a survey of Scope in the City caves.
Source: Ambito
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