The City remained attentive to the footsteps of the American treasure, which announced that it is negotiating with Argentina a swap for US $20,000 million. Within that framework, another strong decrease in the official exchange rate was recorded, also influenced by an agricultural record.
After knowing the swap line granted by the US government to Argentina, he Wholesale dollar continued with its downward trend and fell to a minimum of one month. At the same time, market sources warned that this situation was used by The treasure to buy currencies in the Mulc. In fact there was another very important factor in the collapse of the American currency: Sales abroad were recorded for 11.47 million tons, valued at US $ 4,181 millionequivalent to almost 60% of what is established by the decree that enabled the “0” withholdings until the end of October.
City operators, they highlighted that although it cannot be confirmed that the Caputo team has come out to acquire currencies in the Mulc, They consider that “probably” happened at the beginning of the day when the spot was below $ 1,350. “Movements were seen yesterday and today close to that price,” they trusted this medium. In fact, the amount that the economic team would have acquired on Wednesday, after the Milei meeting with Trump and the consequent fall of the dollar price, would be $ 100 millionrumors ran in the City.
This Wednesday, the currency only went up to half a wheel, a little above $ 1,350, given the possible purchases in treasure blocks but then fell abruptly with the liquidations of the agriculture. In fact, To try to put a floor to the price, the Central Bank made the decision on the simultaneous wheel of Byma to lower the interest rate 10 percentage points (25% TNA pesos aspirated) in order to Remove the incentive to stay in pesos and put some demand to the green ticket.
Finally, in a new wheel with marked volatilitythe spot operated at maximum at $ 1,370, and minimum at $ 1,330. So, The retreat of the wholesale dollar is now accommodated at levels similar to those seen on the end of last August. Thus, it closed to $ 1,328.5/1,337.5, $ 31.50 below Tuesday’s closure, which implies that the first three days of this week the wholesale exchange rate accumulates a decrease of $ 137.5. The volume operated in the US $ S831.307 million and in futures of US $ 2,277 million
In that framework, the other relevant quotes of the dollar indicated that it was achieved in the National Bank to $ 1,360, while within the parallels, the MEP loses 1.7% to $ 1,380.73, the CCL falls 0.9% to $ 1401.93 (they had started with much more pronounced losses), while the Blue It is located at $ 1,400. In the segment retailaccording to the average of the banking entities that the BCRA performs, The dollar is achieved at $ 1,374,542 for purchase and $ 1,319,044 for sale.
Treasury compas, agro liquidation: the new dollar dynamics
If the evolution on Tuesday of the dollar price is analyzed, it can be inferred that the mechan would have started that day to buy currencies. This was explained this Wednesday since PPI: “The official dollar fell 2.8% up to $ 1,369. During the wheel, the spot played minimums of $ 1,348, and then bouncing at its closing value, which lit rumors that possible purchases of the treasure would have collaborated to put a floor to the FX. Even with this movement in Intradiario, the exchange rate closed 7.3% below the upper band of $ 1,477.3 “.
With regard to today’s movements, it must be remembered that the official exchange rate opened with a decrease of 2.8% and touched a floor of $ 1,330 and then bouncing more than $ 20 and falling again. “This leaves in the air the great unknown about whether the treasure will take advantage of this context to make dollars”highlighted from PPI, information that the treasure must confirm as soon as possible. In this sense, On Tuesday, agro liquidated US $ 287 million, a remarkable leap compared to the scarce US $21 million of the “zero” withholdings.
It should be noted that The Government announced on Monday that it will eliminate retentions to agriculture until October 31 or until the DJVE registered add an equivalent au $ S7,000 million. Measure that he took in order to the currency offer is increased, and relieves the pressure on dollar that, in the previous week, The upper band had played for three consecutive days which generated that the Central Bank (BCRA) detaches in total US $ 1,110 million last week.
Swap with the US, purchase of bonds and more: the latest news
This morning, the United States Secretary of the Treasury, Scott Besent, confirmed that his country is in negotiations with Argentine officials for a currency exchange line (SWAP) for US $ 20,000 million with the Central Bank of Argentina (BCRA). The announcement occurs after the meeting held on Wednesday by President Donald Trump and Javier Milei in New York, within the framework of the United Nations General Assembly.
Besent explained that the American treasure is also prepared to buy bonds called Argentina’s dollars “when the conditions merit it.” The Trump administration is also ready to deliver a “significant standby credit” through the exchange stabilization fundaccording to the official in an extensive message posted on social networks.
At the same time, on the previous day it was also known that the World Bank and the Inter -American Development Bank (IDB) will accelerate its monetary assistance to the country with an amount that together will amount to $ S7.9 billion, With the aim of helping Javier Milei’s government to cope with the crisis, after the overwhelming support statements by the US government.
As confirmed by the Minister of Economy, Luis Caputo, The World Bank package of US $ 4,000 million will aim to “support key competitiveness engines”: enhance mining and critical minerals; promote tourism as a source of employment and local development; expand access to energy; and strengthen supply chains and financing to SMEs. Meanwhile, in the afternoon an IDB statement was known that anticipated that it projects significantly expand its operations in Argentina during the next 15 monthswith the aim of deepening its support to the country through different financial tools. The aid will amount to $ S3.9 billion.
Source: Ambito
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