In addition, the MEP dollar or “regulated” stock market rises 0.3% (46 cents) to also $ 177.24, which leaves the same spread with the wholesaler.
During the conference, the Minister of Economy, Martín Guzmán denied that there is going to be a “devaluation jump” to reduce the gap between the official dollar and the financial ones., while highlighting the role of the State to stimulate development, along with the search to achieve fiscal balance.
“We have confidence in the exchange rate policy that we have been carrying out and we are not going to make any devaluation jump,” Guzmán said during the opening day of the 57th IDEA Colloquium that takes place in Costa Salguero.
The exchange rate policy “will continue in line with what has been proposed in the macroeconomic scheme reflected in the 2021 Budget and then in the 2022 Budget“which foresees a 30% devaluation, he said.
BCRA, with a positive balance in October
The Central Bank accumulates purchases for almost US $ 400 million in the last four days -and it registers a positive balance of US $ 170 million in October-, after the previous Tuesday two measures were established that tighten the stocks of financial dollars and limit the advance payment of imports during October.
This Wednesday, The monetary authority bought more than US $ 120 million in a day where the market maintained a level of business above US $ 360 million, much higher than the average for the month and the year, reflecting the normal functioning of the market. In the year, accumulates more than US $ 6,300.
From the Ber Study, they pointed out that “the BCRA continues to benefit from the latest restrictions as they have immediately allowed it to resume foreign currency purchases and thus halt the drain on net reserves“.
“Despite this, operators closely monitor developments as more activity resumes from stockbrokers financial dollars could channel the search for coverage through a reactivation of a greater ‘gap’, an unsustainable dynamic, with a negative impact on the economy and that also generates distortions for which post-election strategies should be evaluated, “they added.
From PPI they indicated that “when considering that the average daily intervention estimated in September reached US $ 22 million and that the net liquid reserves barely scratched US $ 1 billion as of October 5, it is evident that the BCRA had no other choice. “You have to adjust the ‘exchange stocks’ once again. Far from being a fundamental solution, it only serves to buy time, since the market tends to readjust.”
During the wheel, the currency increased five cents in the wholesale segment to $ 99.12 during a day in which it returned to operating flat and with a frank selling trend in a day with intense official activity. Prices were lateralized around the fluctuation range established for today by official regulation and remained unchanged throughout the day.
The minimums were recorded with the first operations agreed, at $ 99.12, three cents above the previous end. One-off increases generated by scarce purchase operations generated a slight slide in prices that reached maximums of $ 99.13 in the middle of the morning. The persistent presence of income from abroad brought the values back to their initial minimum levels, which were maintained until the end of the day due to purchases by the Central Bank.
In the retail segment, Meanwhile, the dollar today fell 17 cents to $ 104.64 -without taxes-, after registering its first decline in 11 wheels, according to the average of the main banks in the financial system. In turn, the retail value of the US dollar remained unchanged at $ 104.20 at Banco Nación.
In line with the Central purchases, gross international reserves rose US $ 54 million, to US $ 42,901 million (in the month they fell US $ 10 million).
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