Sunday , January 17 2021

Dujovne-Sandleris Agreement: The Treasury will market its dollars directly



In recent hours, the Ministry of the Treasury and the Central Bank have reached an important agreement that had a direct impact on the price of money in the coming months. The Treasury will be converted into USD $ 10,000 million in April through the auction market. The subject was debated personally by Minister of Finance, Nicolás Dujovne, and President Central, Guido Sandleris.

This means that the possibility of excluding those dollars sold directly from the BCRA would be excluded, which would have led to the absorption of Leliq's higher emission levels. Thus, Actually, the Lebac snowball is a reversal of the crash that caused the currency crisis. In 2017 and 2018, the Treasury Dolares were sold directly to the BCRA, and then forced to pay the amount of the thousands, through Lebac.

As he explained Infobae The finance secretary, Santiago Bausili, Treasury surplus amounts to 6,000 and 11,000 million euros. This is because the FF loan exceeds the debt repayment needs, because it exceeds the foreign currency debt repayment needs. but On the other hand, there are cash needs in weight. This will raise the large amount of Treasury dollars to be converted into pesos, starting in April.

The revenues are the revenues of the commercialization of the Treasury, which guarantees the stability of the stability of the market and prevents the excessive balance of the dollar during the price election. The biggest danger shared by the government is that there is a lot of uncertainty about what will happen in October, the dollar will jump out of the "no-intervention" area of ​​the roof of the area. which would lead to 30% growth without Central Midwifery intervention.

However, The sale of the foreign exchange bargain will have the possibility of the Ministry of the Treasury supplying the market, almost inevitably when the demand for dollars grows. Before the election, it's a "classical" one of the times and it will be repeated again this time. It would be suicidal, in the economic group, that the dollars are fully realized. Treasury excess dollars will not only be used to obtain weights, but to stabilize the exchange market.

However, at the end of the year, Dujovne and Sandleris agreed. The Treasury sold $ 1 billion to the Central Bank. "Until January 1, it was committed to the IMF, because the Treasury did not have to take part in the exchange market, so the only way to obtain weights was to sell it to the Central Bank, to instantly sterilize it, which regulates more", explained the official sources.

In the market, yesterday, the reason for the dollar was why the weight of the tax rate was harder, Infobae About the amount of dollars to be sold by the Treasury. Refusing to market these currencies is confirmed. But in the next two months, the tranquility of the exchange will be a long-handed hand at the international marketplace. If the good financial climate in the last few days is maintained, the exchange rate will be at the bottom of the exchange rate.


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