Tuesday , June 22 2021

The BCRA has increased its rate of downward trend despite the rate of exchange rate fluctuations



du Central Banks Liquidity Letters auctioned up (LELIQ), together with the exclusive banking and financial system restoring low performance, was exhibited in front of an exchange exchange Dollar bounce is important, permanent request for coverage.

The Central Bank placed it on Monday $ 134,579 million In LELIQ, it was low Average cut-off rate of 61.237%. The maximum rate for eight days was 61,749.

according to Thirteen rows of wheels were fired yields, 61.405 this time on Friday.

This Monday, against $ 132,266 million monthly, the money institution came to $ 2,313 million for this instrument. LELIQ has about 189,243 million dollars from the beginning of October, 16.1% of the General Cash, from November 15, to 1,175,655.6 million.

On wheels and front wheels lowering yields Liquids Letters, US currency recovery has recovered positively, within the incident band provided by the entity indicated Guido Sandleris.

"Despite the rise in the dollar,, The BCRA has validated a new cut of the reference interest rate, "they have summarized Merchants Research, where he warned " disassociate positions by investment funds"After a partial revival of the deadlines of LEBAC, last week, the return of the $ 122 billion financial market.

This Monday, International Monetary Fund (IMF) The Central Bank applauded the effectiveness of the strategy applied and "committed to the authorities Market exchange rates specified will strengthen credibility monetary policy framework and it will increase resistance blow outdoors"In a statement signed by the leaders of the Argentine agencies, Roberto Cardarelli.

Obviously use Large interest rates have high costs Macroeconomics and the future evolution of the exchange rate and inflation.

An analogy report stated that "in the context of a strong macroeconomic uncertainty, Exorbitant interest rates come back Productive investment is not feasible and they only promote financial speculation ".

He added advice "temporarily Deviations from the IMF and level interest rate it seems Exchange rate, this anchor is not sustainable over time, thus committing itself to the recession of economic activity to stop foreign exchange droughts.


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