Likewise, the president of the Central Bank today minimized the debate on the amount of reserves that this organization has and assured that “lower levels” were had and that the situation could be “faced.”
According to data from the monetary authority, reserves fell by US$1,085 million so far in August, at a rate of about US$200 million per business day. Thus, gross reserves stood at US$37,155 million on Monday, when on the last day of July they amounted to US$38,240 million.
“Since the second half of 2020 they have been saying that we are going to have difficulties paying our external obligations. But we had reserve levels lower than this and we were able to deal with the situation. The same thing will happen in the coming months.“, affirmed Pesce. In that sense, he said: “We have appropriate levels of reserves to face the obligations of the Central Bank”.
In addition, he ruled out that the reserve requirements of deposits in dollars are being used as collateral, as had transpired.
“The monetary authority had to once again attend to the demand for foreign currency with its own resources, accumulating since the beginning of the month more than US$820 million in net sales, a result that transformed the accumulated figure for the year with a negative balance that greatly complicates the objective to recover reserves, as was timely committed to with the IMF”analyzed Gustavo Quintanaoperator of PR Corredores de Cambio.
Notably the BCRA’s benchmark interest rate could climb close to 600 basis points this week in reaction to the rise in complex inflation rocking the country, market sources told Reuters.
Analysts and local operators agreed that the monetary policy could have a new return of around 66% annual nominal, against the current 60%. The new projected rate represents an effective annual rate of 90.1%, in line with the forecast of 90.2% inflation for 2022 that was shown in the latest market survey released by the BCRA itself.
“There is expectation for the new important rate hike by the central bank this week, in search of continuing to recover a greater appetite for placements in pesos and simultaneously moderating the search for coverage” in dollars, said the economist Gustavo Ber.
The entity’s board of directors will meet this Thursday after the National Institute of Statistics and Censuses (Indec) releases the inflation data for July, which is expected to exceed 7%.
The dollar today -without taxes- rose this tuesday august 9 at $140.77according to the average in the main entities of the financial system, while in Banco Nación the bill rose 50 cents and is trading at $139.95 for sale.
In the parallel market, on the other hand, the blue dollar rose one peso on closing to $293 although it remains far from $300, according to a survey of Ambit in caves of the city of Buenos Aires.
Savings dollar price, Tuesday, August 9
The savings dollar or solidarity dollar-which includes 30% of the COUNTRY tax and the deductible 35% of Income Tax and Personal Assets- it rose 46 cents, or 0.2%, on Tuesday to $232.27.
Price of the tourist dollar, Tuesday, August 9
The tourist dollar or card -retailer plus COUNTRY Tax, and a perception of 45% deductible from Income Tax and Personal Assets- it rises 49 cents or 0.2% this Tuesday to $246.35.
Wholesale dollar price, Tuesday, August 9
The wholesale dollar directly regulated by the BCRA, closed Tuesday 28 cents higher at $133.85.
Savings dollar price, Tuesday, August 9
The savings dollar or solidarity dollar-which includes 30% of the COUNTRY tax and the deductible 35% of Income Tax and Personal Assets- it rose 46 cents, or 0.2%, on Tuesday to $232.27.
Price of the tourist dollar, Tuesday, August 9
The tourist dollar or card -retailer plus COUNTRY Tax, and a perception of 45% deductible from Income Tax and Personal Assets- it rises 49 cents or 0.2% this Tuesday to $246.35.
Wholesale dollar price, Tuesday, August 9
The wholesale dollar directly regulated by the BCRA, closed Tuesday 28 cents higher at $133.85.
Price of the CCL dollar, Tuesday, August 9
The dollar “counted with liquid” (CCL) -operated with the Global 2030- rose 1.4% this Tuesday and closed at $287.66with which the spread with the wholesale rate operated around 114.9%.
Price of the MEP dollar, Tuesday, August 9
The MEP dollar -also valued with the Global 2030- meanwhile, it rose 0.1% on the day and traded at $279.20 so the gap against the official exchange rate reached 108.6%.
Blue dollar price, Tuesday, August 9
The blue dollar rose $1 this Tuesday to $293according to a field survey in the Black Market of Currencies. Thus, the gap with the official dollar it stood at 118.9%.
Crypto dollar price, Tuesday, August 9
The crypto dollar or Bitcoin dollar rises 1.4% this Tuesday to $286.55, based on the average among local exchanges reported by Coinmonitor.
Source: Ambito
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