The wholesale dollar bounced This Tuesday, June 10 despite the ads of the new measures of the Central Bank (BCRA) to accumulate reservations and try to comply with the goal provided for in the agreement of extended facilities with the IMF.
The exchange rate wholesale officer climbed $ 3.50 to the $ 1,188.50 For the sale after closing on Monday with a slight decline, extending the streak last week.
In A3 markets, The contracts of the future dollar They registered generalized increases for 2025. The market “Price” an officer a $ 1,204.50 By the end of the month, and $ 1,354 for the end of the year, which would result in an average monthly increase in 1.9%.
He dollar BlueMeanwhile, he gave up $ 5 and sold to $ 1,190, According to a survey of Scope in the City caves.
As for the types of stock exchange, the MEP fell $ 2.72 to $ 1,189.44, while the CCL gave up $ 4.42 to the $ 1,193.85.
For its part, the Retail dollar operated to $ 1,159.87 for purchase and $ 1,202.12 for sale In the average of the financial institutions published by the Central Bank (BCRA). Meanwhile, in the National Bank The ticket quoted Flat to $ 1,150 for purchase and $ 1,200 for sale.
The Minister of Economy, Luis Caputoand the president of the Central Bank (BCRA) Santiago BausilI gave more details of the measures that the monetary entity announced and that include the end of the Lefisand various strategies for the accumulation of reserves such as A new repo and debt placements.
Within the ads it was also reported that it will be made A repurchase of sales options (puts) on treasure titles held by banks. In that sense, Bausili said that they are in total 4.5 billion pesos of American puts and 1.3 of European puts that will offer banks the opportunity to sell these instruments to BCRA again.
Regarding the decision of Do not renew the Lefis, The president of the BCRA said that this happens within the framework of the “Elimination of the monetary policy rate” And that from now on, The only variable that we control is the amount of money in a scheme with controlled emission.
From the market, analysts see with good eyes the central bank’s turn towards a monetary scheme based on aggregates. “The measures go in line with a more coherent monetary policy strategy, focused on the control of aggregates and not on the rate as an anchor,” He held Scope AUXTINA MAQUESYRA, Sailing Investment Commercial Manager.
In that sense, he remarked that “The interest rate becomes endogenous, which is consisting of a context where its role as a signaling instrument had been diluted.” For the specialist, the new framework “More conventional and flexible” It allows the BCRA to act more accurately, using tools such as Lecaps placements in the open market. “We positively value this approach, since it is aligned with the stability and coherence objectives in monetary conduction,” He stressed.
Reservations
International gross reserves fell others u $ s33 million, to the U $ 38.602 millionsafter having risen more than US $ 1 billion on Wednesday due to the entrance of the foreign exchange of the Bonte issued by the Treasury last week.
He International Monetary Fund (IMF) postponed the mission to Argentina for July for the mid -June, where the government should demonstrate an extra accumulation of U $ 4,400 million BCRA reservationswithin the framework of the recent agreement by U $20,000 million With the credit organism.
The BCRA launched A battery of measures among which are the Confirmation again repo (short -term loan) with financial entities, and the launch of Monthly bond tenders in dollars, For both resident, foreigners, in the latter case, without the minimum permanence of six months, to swell reserves.
Although, Caputo said that the government speaks “constantly “IMF and “They are very happy with how the program works.” “The accumulation of reservations does not have the level of importance that had a few months ago, since today we are with a floating exchange rate and a capitalized central bank. Both the downward inflation and the accumulation of reserves are two obvious consequences that will be given“He added.
Source: Ambito
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