The North American currency remains under pressure in the run-up to the elections, in a market attentive to official intervention and signals from Washington.
He official dollar approaches $1,500 and exceeded $1,550 in financial contributions (MEP and CCL), in the days prior to the general elections. The demand for foreign currency remains firm, while the Government multiplies optimistic announcements in an attempt to calm investors. The first came on Monday, with the confirmation of a swap with the United States for US$20 billion, freely available although without impact on gross reserves. A debt buyback was also reported. These measures, although positive, failed to contain the exchange rate volatility and analysts anticipate that instability will persist in the days before the elections.
On Monday, foreign exchange operators detected sales positions on the roof of the band They could correspond to the BCRA. “The demand for coverage continues to be sustained, and this is reflected by a wholesale dollar above $1,470 that only intersperses respites due to Bessent’s interventions.which lately no longer manage to respond to private demand, but only barely moderate the upward adjustment of the currency, before it reaches the ceiling of the band and BCRA sales must be activated,” said the economist. Gustavo Ber.
Thus, one of the unknowns is whether the intervention of the US Treasury to prevent the dollar from hitting the ceiling and the Central Bank from beginning to drain reserves or whether it will bet on some private supply to appear. The truth is that they are wheels of uncertainty and the market seeks to cover itself.
bcra central bank reserves dollar
Javier Milei opens the umbrella in the run-up to the elections: “They will do everything possible to generate panic with the dollar”
The president Javier Mileitrue to his style, was active on social networks in the last few hours. This time he positioned himself on two central issues this week: the dollar and the legislative elections next Sunday, October 26. Through a post on his “They will do everything possible to generate panic” with the currency.
“KEEP IN MIND. End”. With these words, the President denounced through a retweet a post by economist Federico Domínguez that the next few days will be one of “panic” and “lies”, as stated in the message of the aforementioned finance specialist, with an analysis of his vision of what will happen in the coming days with the North American currency.
In the tweet to which Milei refers, Domínguez began by saying: “This week they will do everything possible to generate panic and try to make the dollar the cover of the newspapers. There will be lies: that the US Treasury ‘lets go’ of the Governmentthat after the election the bands will end and there will be a great devaluation, whichthat the Government ‘spent many dollars’ to intervenethat debt payments are at risk, and much more.
In another section, Domínguez maintains: “Politically, the operations can be even larger. The reality is that, in December, the Government and its allies will see their ability to defend fiscal balance reinforced. “The monetary program is solid, because there is a capitalized BCRA, few pesos and a fiscal surplus.”
Source: Ambito
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