The monetary authority announced official data on its position in future dollar contracts. From its sales, it seeks to bring the wholesale exchange rate to the band’s floor.
The Central Bank (BCRA) confirmed, through an official publication, which intervened in the future dollar market during Aprilmonth in which the new exchange scheme of flotation bands debuted. In addition, private estimates indicate that participation more than doubled in Maywith the aim of approaching the official exchange rate to the lower limit of the band.
The monetary authority recently announced the international reservation and liquidity form in foreign currency as of 04/30/25, to comply with the special rules for the dissemination of data that the International Monetary Fund (IMF) asks countries that have access, or could obtain access, to international capital markets. There one reported one Net Sale of U $ S408.78 million in concept of “financial derivatives (forwards, futures and options)”.
From the Outlier consultant they stressed that this figure is equivalent to almost 14% of the open interest informed in A3. The entity also predicted that, “Since the most significant interventions were observed after that cut (already in the month of May), it is reasonable to estimate that the current position is approaching US $1 billion (or even more)especially considering that much of the open interest in December would be operated against the monetary authority for the volumes operated at the beginning of the month that would seem only possible from there. “
The intervention in futures pushed the official dollar near the band of the band
From her estimates, the consultant said that the intensification of said intervention “It was the main reason for the decrease of the spot during that month and that it is constant. “It is worth remembering that, so far this month, the official wholesale exchange rate contracted almost $ 30 (-2.3%) to be currently located in the $ 1,140 area.
In half of the business days the dollar operated down. Particularly highlighted the collapse of May 7, when the currency dropped $ 70 after a record in the operated volume of futures. That day, US $ 4,240 million, the highest value since July 29, 2022, the day after the resignation of Silvina Batakis after its ephemeral passed through the Treasury Palace.
Until now, evidence on the intervention of the BCRA in the futures market was mainly inferential from the high operated volumes, persistent sales despite implicit casualties, and an open interest in difficult levels of sustaining. With the new BCRA information, the official presence is confirmed.
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.
