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Home / argentina / The dollar sank 72 cents to $ 38.82 due to higher foreign currency earnings (in a month that grew by 5 percent)

The dollar sank 72 cents to $ 38.82 due to higher foreign currency earnings (in a month that grew by 5 percent)



Although it remained stable for several weeks, it increased by 5 percent in November, as a result of four strong and timely increases in the wheels in which investors invest in disarming.

Harmonizing with Individual and Free Market (MULC), where the currency fell by 74 cents $ 37.72, in a round in which the central bank awarded $ 189.162 million for a new tender for Leliq, with an average rate of 60.75%, lower than what was recorded on Wednesday (61.20%).

"The price fell due to the steady inflow of foreign currencies, such as banks, exporters and investors, which echoed demand, since operators have primarily determined the placement of the pesos according to a diverse asset menu and different conditions, with still high", analyzed from ABC Mercado de Cambios.

"At an atypical day for a shrinking schedule, the North American currency could not recover from the previous drops and reiterated the scenario of sincerity of weakness." The prices are adjusted to the scenario where the supply of foreign currency clearly prevailed in the development of jobs that generated the third consecutive fall, "operator Gustavo Quintana, PR Corredores de Cambio.

The maximum date was recorded at $ 38.35 with the first agreed transaction, eleven cent below the previous closing. However, the supply of dollars was built up early and heavily during almost the entire run of the short wheel and drove back the prices that easily blew $ 38, touching the minimum $ 37.72 in closing the operation. The total business amounted to USD 305 million.

"The price fell due to the constant inflow of foreign currency, and from banks, exporters and investors, which echoed demand, as operators have primarily put pesos on a different asset menu and under different conditions still high rates" (ABC Market Change)

It is worth pointing out that public and private banks throughout Argentina will not open their public gates on Friday for the "feast" they have determined in the summit.

Other markets

On the money market between banks "call money" has acted on average by 52%.

ROFEX operated 822 million USD, of which more than 65% was agreed between November and December, with a final price of $ 37.97 and $ 39.26 respectively; and rates of 60.48% and 46.57% TNA. The futures ended with a loss of more than $ 1, following a drop in the ladder, down 0.74 dollars.

In the informal market, on the other hand, blue closed $ 38, according to researching this media in caves in the center of Buenos Aires. "Cash Settlement" fell by 89 cents to $ 37.69.

International reserves fell on Thursday $ 268 million to US dollars 51,182 million.

Dollar in the month

Although the US currency was practically stable for most of the second month of Gudia Sandleris's management at the head of the BCRA, the price dropped in November with a 5% increase. The rebound was basically concentrated in four days that determined the final result: Tuesday, November 13, when the dollar jumped 55 cents to a round in which the Central confirmed the seventh cut at the Leliq rate.

The second shot happened on Friday, November 23, when the bill jumped to $ 1.07, driven by a significant demand for liquidity coverage over the beach (after being offered by Lebac, in which the BCRA overturned on the square about 122,000 million dollars).

The third occurred last Monday in the wheel in which it was the US currency went up $ 1.44, Growth in prices was a result of various factors such as disarmament trading, important maturity obligations abroad, takeover position by the end of the month and appreciation of the currency in the region.

And the final stimulus that justified the monthly increase occurred last Tuesday due to a combination of factors, including the release of the trade and the takeover of the positions at the end of the month. This was the day that the dollar jumped by 3.7% ($ 1.44) to $ 39.94 and touched on the new value because Sandleris was head of the Central Bank.


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