business moves “seeking to recover reserves according to the agreement reached between the Government and the main agricultural export chambers to increase the supply of foreign exchange”remarked the Cohen settlement and clearing agency.
The agreement between the parties foresees that this week some 1,000 million dollars will be settled, of which some 320 million were finalized on Tuesday, to reach the end of the month with some 5,000 million dollars.
Based on provisional data, the BCRA’s total reserves are around 36,600 million dollars and, according to private analysts, it seeks to swell the numbers to about 42,000 million as a base for a little over three weeks.
Operators do not rule out that the BCRA will increase its reference rate this week after the Government’s decision to order a special exchange rate for soybean exportersto sterilize the prevailing liquidity, in line with what was advanced to Reuters by a source with knowledge of the matter.
Economy Minister Sergio Massa is in the United States to hold various meetings, including with leaders of the International Monetary Fund (IMF) and businessmen from the energy area.
On Tuesday, Argentina and the Inter-American Development Bank (IDB) agreed to expand the financing to almost 5,000 million dollars between 2022 and 2023.
In that context, the S&P Merval rises 2% to 140,052.22 points in line with Wall Street by general rearrangement of prices with predominance over energy and financial titles.
Bonds and country risk
In the fixed income segment, Argentine titles operate unevenly. The drops of up to 1% respond to the global GD30, GD29 and GD35. Bonares also advanced up to 1%, led by AL29 and AL35.
The country risk measured by JPMorgan fell -0.04% to 2,365 basis points.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
