The dollar started the tenth day under the band without intervention. Within a few hours after the Monetary Policy Committee decides whether to increase and how much money is allowed to buy foreign currency – and thereby achieve increased demand, inject more cuts and reduce the dollar a sharp drop of 48 cents to $ 37 in the wholesale marketThe bottom of the non-intervention band is $ 37.61.
The central bank went early to buy. He bought $ 50 million at an average price of $ 37.08, with a maximum of $ 37.10. As of January 10, when shopping began, $ 560 million was added to the reserve.
Meanwhile, in retail market, dollar falls 50 cents to $ 37.90 in Banco NaciónOn Wednesday, the currency was closed at $ 38.59, according to banks' average. These are values that have not been seen since last December.
The dollar followed the same path as in other countries in the region, where all currencies – from Brazil to Mexico – were revalued.
The dollar's fall in Latin America is linked to the US Federal Reserve Declaration keep a cautious attitude about raising the rate. The Fed kept the key interest rate unchanged and, furthermore, eliminated the reference to a "gradual increase" in its statement, which marked a flexible approach to reducing the bond portfolio and implied that future exchange rate fluctuations could even be a court.
Optimism for emerging markets after the decision of the North American central bank also affects the country's risk, which falls to 0.87%, to 683 points. This means that between Argentine bonds and those in the United States there is a difference of 6.83%, which is considered the safest. The 10-year US Treasury Bond also fell to 2.67%.