There was no way anyone was traveling the dollar during the whole year. The estimates of the major economic advisers predicted that the value of American currency would be worth 20 December 2018. This number, however, is presented by the government as a result of the 2018 Budget Projec- tions. The reality was very different. The weight was the highest 2002 devaluation and the currency rose 105.3 per cent per year.
On the last day of the year, the dollar was almost 80 cents a day before the market was actively involved in the market for a period of 38.84 days, with a benchmark interest rate of around 60%. A big drop in the wholesale market, where the currency wheel began Closed $ 38.20 and $ 37.67.
The Central Bank purchased $ 36.90 for buyers and $ 38.84 for Friday, December 29, 2017, for a price of 18.42 million euros and 18.92 euros. In this way, the US currency has increased more than 105% In the third year of Mauricio Macri's management, it will be one of the highest marks in national history.
The effect of the financial income tax force and the risk of maximum four-year-old countries come into force as a result of local investment uncertainty in terms of annual investment. Renew their wallets. On Thursday, for example, the reversal of the initial currency movement fell 30 centimeters in the wholesale segment, with institutional investors investing in dollars.
Reasons for instability
The continual rocking of the American currency was not so far from an economic instability, but also of political changes currency distortions. There were two changes in the Central Bank's currency, two of the funds from the National Monetary Fund for loans, radical changes in armor-related physiognomic change and planned zero adjustment deficit by 2019, according to the predicted adjustment policies.
The number of money was doubled in the last 365 days. The first signs of the highest demand in the United States were before a few days before the 2017 change. On 29th December, at a press conference, Marcos Peña, the Finance Minister, Nicolas Dujovne, and Luis Caputo and Federico Sturzenegger changed the "inflation targets" of 2018.
He was looking for measurements "relax" monetary policy and boost economic growth at a lower interest rate. It did not work Dolar gradually began to rise, spending 20 million and gradually began to intervene in the Central Market to prevent increases.
In May, the first critical situation occurred. Mauricio Macri announced the Government I applied for an MFI loanin the midst of a hard economic storm. The dollar was approximately 25 pesos in a few days, with the strong Central-Powered Sturzenegger.
Gradually, it has been a continuation of the dollar. After the departure of Sturzenegger, Central President he was in his hands Luis Caputo. In a few weeks, the currency stabilized. But some Tailings produced by Turkish trade tensions, caused by Lira devaluation, create more instabilities.
Then, Macri announced the financial program with the IMF. The dollar increased by more than 34 pesos He created another imbalance weight. Caputo left his post and entered Guido Sandleris in a few weeks, announcing a different system to raise the United States currency.
The plant started settling on the "flotation band" of the dollar. This made the roof and floor benchmarks. Following these figures, the Bank will participate in the purchase or purchase if necessary. Since the introduction of this system, until now, The value fluctuated between 36 and 42 pesos, ending the year $ 38.85.
The organization also implemented a new measure that allowed money to dry out on the market. The "central weight" "gap" to date, with daily offers, allows the sale of financial instruments called Leliq to banks.