Saturday , June 10 2023

The dollar decreased by 3.4% after removing the circulation of 106,300 million dollars in the BCRA for three days



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The Central Zone took over the market (this week removed the absorption of 105,000 million dollars) without the impact of the rate; For Sandler, the weight still "overloads" with shocks Source: Archive

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dollar

Yesterday it seemed to be confirmed, compared to the excessive weight of the street, keeping the bike lanes.
The average price dropped 1.9% (from $ 38.46 to $ 37.72 for wholesale)
$ 39.54 and $ 38.80 for the public), at the end of a business-ending shorter than usual (according to the G-20, the activity ended two hours before) and

Central Banks

(BCRA) is committed to a very non-monetary commitment, not only on the operational side, but also on the gestures.

As a result, the card obtained a third wheel, followed by a drop, with an average delay of 3.4%, which was close to $ 40 at midday and returned to the affected level before threatening it. Begin the Sandleris era. This did not stop, however, closed weekly (currently the markets do not work for national holidays), grew 0.2% and accumulated a 5% recovery in November.

When the monetary entity doubled the efforts to reduce its market weight, the drop in the previous week decreased after December December (a month of declining demand). disarmed

Lebac

(Leaving $ 120,000 million) an additional injection of $ 78,000 million is added to the renewal of the liens for liquidity expiration (Leliq).

But after demonstrating that this relaxation was almost a 7% average jump in two days, the trial decided to make another choice.

"This week, Leliq earned $ 469,267 million and gave new letters of $ 583,867 million, which is, without an absorption of $ 105,000, an average of 61.40% to 60.75%. Free book: Leliq stock of 718,711 million dollars He paid $ 6300 million in revenue for $ 6300 million this week, $ 9500 million in the week ahead, "said Christian Buteler, a financial analyst.

"This week, unlike the previous one, it was contracting, the BCRA absorbed approximately half of its deployment last week, and also advanced the benchmark rate that the dollar had lowered." To reduce the dollar rate without a dollar impact, the BCRA needs to be manipulated. " , said economist Gabriel Caamaño, according to Ledesma study.

Last Friday and Monday the bouncing jump bills triggered the Government's alarm when a "staggered" stabilized market began to run (at the end of the race, Macri's image fell) and it was prepared to convince the capitalized oil company to lower fuel prices at an international crude oil price And even if the domestic tax rate is rising in the coming days.

The easing test to reduce the test rate was lowered by the BCRA (next week) 60% off the floor to show the established commitment to prevent its goals. That's how the worst of the crisis was to be felt behind.

But the dollar's reactions forced the BCRA to revise its plans. "The earth remains high and our currency still reacts too much against internal and external shadows," yesterday acknowledged yesterday

Guido Sandleris

, When it appears in the Council of America. "If we are aware of our economy facing us, therefore, if we allow the base base to be a basic requirement," he argued, arguably, that he uses the prerogative of the agreement.

NDF

The base was down 6% in December. "We will only make money that we do not anticipate growth in demand," he said.

It is not a question of sharpening the debt of the G-20 repudiation

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Argentine debt

Despite the fact that the Federal Reserve of the United States does not recover, despite the fact that they are not recovered, it accepts that the policy benchmarking of the economical benchmark rate can be paused but sustained. "Demand does not appear, so they have dropped 25 cents in the central section and with 50 curves, so they accumulate losses between 1.5 and 2% per week," said Sebastian Cisa. , SBS group. Due to this weakness, the country's risk rate remains more than 700 points (closed to 704), below the indicator (10-year-old bombing rate) dropped by 1% yesterday. , 3.0%.

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