Monday , October 18 2021

Lebacen Ends: $ 68,000 Million Expired and Free Weigh Though Dollars Will Press


Tuesday The Lebacen time is overThe Central Bank's financial instrument was created to break through the year 2002, and in recent years it has been instrumental in determining monetary and commercial investment and investment in star investment.

One year after the $ 1.5 billion dollar snowball ended with crushing, one year before, a 100% repayment was made to dismantle dollars in April. .

The last expiration of the Lebac calendar will be on Tuesday the last $ 68,000 million. From that date onwards, the circulating stock of this instrument will no longer be. The question that surrounds the market is that the amount of provisional weight "released" will occur, if the exchange market pressure is increased, the weight of the last days was not in the international context.

Lebac's "death" began in April in the midst of the crisis of exchange, and lasted until the end of August when the last major exchange rates occurred. The Central Bank authorities issued a partial renewal schedule due to the disappearance of the stock.

And in order to support local currency in this process, the central entity placed on its table of reserves dollars to share "loose" shares in partial pressure offers. The disarmament was progressed every month and, as planned from the beginning, at the end of the year, Lebac would no longer exist.

These debt securities, the shortest maturity of 30 days, were monthly traded by sponsors and small investors, speculative funds and foreign investment funds. star financial instrument Modification order.

Since the exchange rate and the second agreement on the International Monetary Fund have already been negotiated, the Central Bank has determined that the new benchmark for determining the interest rate will start with Leliq, keeping the monetary problem in the portal, which is how much the market is marketed.

This uncertainty caused by the 68,000 million dollar injection into the irregular market market, the financial risks of the financial system of Juan Manuel Carnevale "I do not think exceptions because of Lebac expiration. In the last few days, Leliq has risen, with the Central Bank going on nothing. The dollar would not rise much, probably the Central Zone will rise to control it immediately. "

Lebac does not have the option of sponsors, we need to look for alternatives to invest in pesos. And to Carnevale, the best option is still "easiest", a fixed bank. "The best investor can get a fixed term 30, 60 or 90 days. People who need more liquidity are going to Lecapera (debtors with treasury bills). But today, you have a fixed period covering inflation. "

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