Thursday , June 24 2021

The dollar falls 19 cents to $ 39.75, with the tender market for Letes and Lecap

He is in tune with him Single Market and Free of Changes (MULC), where the currency goes back 15 cents a $ 38.80 after playing highs at $ 39.11 at the start of the wheel.

In the informal market, for its part, the blue go back 50 cents a $ 38.50, according to the relevance of this medium in caves of the Buenos Aires microcentre. The "counted with liquidation" climbed 91 cents yesterday at $ 38.72.

It should be noted that The Ministry of Finance will today bid bills of the Treasury in pesos and dollars (with maturities of 193 and 116 days, respectively), as well as National Treasury Bonds in pesos (BOTE), at a fixed rate, which will expire on November 21 2020

The receipt of offers will begin at 10 and will end on Wednesday at 15, according to the timetable disseminated by the Ministry of Finance.

In yesterday, for a combination of factors, among which we can mention the disarmament of the carry trade and the taking of own positions at the end of the month, the dollar jumped 2.4% or $ 1.44 to $ 39.94 and He played a new maximum daily since Guido Sandleris ended up in the Central Bank. In this way, the ticket accumulated the fifth consecutive run.

In the wholesale segment the currency was 3.9% or $ 1.45 to $ 39.05. It happened on a wheel in which the BCRA made an auction 8-day Liquidity Letters and revalidated a decrease in the rate whose cut-off average stood at 61,237% (61.405% of Friday). The amount awarded was $ 134,579 million.

"A combination of factors, among which we can mention the disarmament of the carry trade, important maturities of obligations with the outside and the inexorable beginning of the closure and compensation of each end of the month, seem to have allied to unleash a correction of the dollar with an unforeseen magnitude ", said the operator Gustavo Quintana, of PR Corredores de Cambio.

Despite the swings, Central Bank sources explained that "in the money market the effects of this volatility were not perceived as the entire LELIQ maturity of the day was renewed without changes in the cutting rate."

For the second consecutive month, the BCRA is heading to overburden the zero growth target of the monetary base, which is why "it will continue to monitor the monetary market carefully to absorb any excess liquidity that could exist," they assured the same sources.

The green bill accompanied the appreciation of the price in the region, especially in Brazil, where the currency rose 2.5%. In Mexico, the dollar increased 1.01% and in Chile 0.2%.

Other money markets

In the money market between banks, call money operated at an average of 60%.

In ROFEX, $ 1511 million were operated, of which more than 77% were agreed between November and December, with final prices at $ 39.50 and $ 40.92 respectively; and rates of 60.09% and 49.94% TNA. It is estimated that the BCRA was selling in this market. The futures ended with an average rise of $ 1.4 accompanying the rise of the spot.

Finally, the BCRA's reserves fell on Monday of $ 145 million and closed at $ 51,591 million.

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