The wholesale dollar sank up to $ 1,369 for sale and returned to levels prior to the PBA electionsafter Monday took place two key ads: the decrease in retentions to agriculture and the imminent according to the US that would grant oxygen to the coffers of the Central Bank (BCRA).
In this way, the wholesaler, which is the market reference and by which the agro -exporters liquidateclosed only $ 14 below the level prior to the elections and almost 8% below the band’s roof. The wheel in the cash segment was marked by volatility and totaled more US $ 516.3 million, without the official activity of the BCRA. Nicolás Cappellaof IEBsaid that on the day “There were rumors that the treasure would have bought dollars at $ 1350”.
Future dollar contracts closed with casualties up to 5.7%. The “price” market that the wholesale exchange rate at the end of September will be $ 1,364, and that In December it will reach up to $ 1,502which exceeds the roof of the band today. In the segment, about US $ 1,904 million were operated.
From ABC Changing Market They stressed that The manifest support of US President Donald Trump and the US Treasury support exerted downward pressure on the currencywhile, on the end of the wheel, the news by the Inter -American Development Bank (IDB)which will advance funds for up to US $ 4,000 million contributed to the bassist tonic with which it operated throughout the day.
For its part, the retail dollar closed to $ 1,338.06 for purchase and $ 1,391.95 For sale In the average of the financial institutions published by the Central Bank (BCRA). At Banco Nación (BNA) the day ended to $ 1,335 for sale and $ 1,385 for purchase. Thus, the dollar card or tourist, equivalent to the official retail dollar plus a surcharge of 30% deductible from the income tax, it is located to $ 1,800.5.
Among the parallels, the dollar Blue fell $ 65 to $ 1,410 for saleaccording to a survey of Scope in the City caves. For its part, the MEP dollar sinks 1.9% at $ 1,400.46 and the gap against the wholesaler is 2.3%. Meanwhile, the dollar counted with liquidation (CCL) low 2% to $ 1,414.53with an Spread of 3.1% compared to the official price.
“The decline occurs without having yet specified a significant sales income of the agriculture. The volume operated at the time is US $ 262 million. We will have to see at what level the treasure considers reasonable to buy dollars again. The last purchases had made them around $ 1,250, “market sources said.
For some operators, the government does not seek to find a “floor”, because it considers the position sold of the BCRA in futures. They express that it is also “Importantly follow the gap between MEP and officer, to understand what level of weights that agriculture receives return to the dollar via actors without cross -restriction”.
The fundamental thing for the scheme to work is that Reconcrate expectations and that the bands are credible againeven after the elections, they warn.
On Monday, Market sources anticipated the scope that the exchange rate could continue to retreat in the next few daysfavored by the greater liquidation of agriculture and a lower demand for foreign exchange after the US support announcement. Assistance would provide the government with a key respite to sustain exchange calm to elections.
“Argentina It is a systemically important ally from the United States in Latin Americaand The US Treasury is willing to do whatever necessary within its mandate to support Argentina“said the secretary of the US Treasury, Scott Besent.
Source: Ambito
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