He Central Bank (BCRA) published his “Report of the Evolution of the Foreign Exchange Market and Exchange Balance”. In this, the evolution of the purchases and sales of foreign currency carried out by entities with clients through the exchange market during August. This report also details the operations carried out directly by the BCRA.
In Augustthe international reserves of the BCRA increased by US$3,727 millionending the month at a level of US$27,818 million.
According to the published survey, during August the and the customers of the entities They sold US$1,185 million in the exchange market, while the entities they made sales by US$38 million. For his part, the BCRA effected net payments through the Local Currency Payment System by US$34 million.
As to shoppingthe financial institution bought US$1,257 million in the market. Also, the National Treasure acquired directly from the BCRA US$231 million.
Which sectors of the economy sold the most currencies?
He ““Non-Financial Private Sector” was a net seller of US$831 million in the exchange market. Within that group, the main sector in terms of net sales, “Oilseeds and cereals”recorded net income for US$1,235 milliona 57% less that in the same month of 2022product of the drought.
Meanwhile, the “Real Sector excluding Oilseeds and Cereals” was net foreign exchange seller for the first time since June 2019for a total of US$119 millionexplained mainly by the reduction in import paymentswhich resulted in a surplus in the “Goods” account, and due to the entry of foreign assets, partially offset by expenses for travel and other consumption made with cards with non-resident suppliers.
Purchase of dollars and negative balance
For their part, the “Human persons” they bought net US$550 millionmainly for expenses trips and others consumption made with cards with non-resident suppliers (with a net result of US$366 million) and to hoarding (with a net of US$168 million for ticket purchases).
The sector “Institutional investors and others”so much residents as non-residentsmade net sales in the month for US$27 million.
Thus, the current exchange account registered a deficit of US$372 million. This result was explained by the deficits of the Primary Income accounts (US$1,251 million), Services (US$412 million) and Secondary Income (US$1 million), which were partially offset by he surplus of the property account by US$1,292 million.
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