This Friday the BCRA increased the value of the wholesale exchange rate by $4.4 pesos.
After the victory of Javier Milei in the runoff, the central bank keeps the crawling peg that had announced and adjusts almost $1 per day on wholesale dollar in a place with liquidity control, according to operators.
This Friday, December 1, the monetary authority led by Miguel Pesce The wholesale exchange rate increased $4.4 to $365 from Thursday’s close of $360.60. During the month, the wholesaler recorded an increase of 2.8% or the equivalent of $10.43 until the last day of November.
Dollar: the 3 key measures of the Government to contain the exchange rate until December 10
After the victory of Javier Milei, the Minister of Economy and candidate of Union for the Homeland, Sergio Massamet with economic team to define the transition and the measures to contain the dollar until December 10, taking volatility for granted. In this note, one by one all the measures.
Exporter dollar
The Government made official the extension of the export dollar program until December 10 and established new conditions. As anticipated Ambit, decree 597/2023 increases to 50% the portion of foreign currency that can be settled in the Cash with Settlement or “CCL” dollar segment. It is estimated that the new exchange rate will be $640/650, which will depend on the variation in quotes. This will allow the Government to “shield” reserves at a more competitive dollar for exporters. The bet is to maintain the incentive for liquidations of the export complex, but also add an offer to the CCL that allows it to be kept at bay.
exports-imports-trade-ship.jpg
Depositphotos
Intervention in the bond market
The Central Bank is going to continue intervening in the bond market as confirmed and they hope that Milei’s clarifications that there will be no immediate exit from the stocks will collaborate with the idea that “there is no cliff in sight” and favor the transition.
LEVIDs are eliminated
Regarding the Lediv, bills of the BCRA, an instrument strongly in demand in the run-up to the elections, this alternative will be eliminated for exporters, while financial entities will be able to subscribe Lediv on behalf of and at the order of the importers..
This is an instrument launched by the Central Bank with the first Export Increase Program (soybean dollar, agriculture) so that they deposit the funds in an account after liquidating their currencies. These accounts are dollar linked, which allow you not to lose in the event of a sudden devaluation.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
