Wednesday , January 26 2022

The dollar has touched the floor of the flotation band and the Central Bank will intervene


The dollar has touched the floor of the flotation band and the Central Bank will intervene

Wholesalers closed on Monday at $ 37.30. According to the BCRA, according to the market, the central bank's intervention area begins when the dollar cost is less than $ 37.31.

Since the beginning of October, when the Central Bank set the dollar flotation scheme, the US currency was punching the ground. The entity allowed it to intervene in the foreign marketto redo the green card value through purchase. As a representative, the currency authority must absorb the interest rate paid by Leliq's daily bidding.

This morning, when the exchange market opens, the wholesale dollar will cost $ 37.30. Exchange cash flows The floating daily update scheme begins with the Bank's central intervention area that the dollar has a cost less than $ 37.31. So far it will be able to technically market.

In October, the agreement signed with the International Monetary Fund states that the government determines the conditions for the government to change the rate of exchange, in the case of the dollar in the case of the flotation band up or down, it may be sold by the currency authority (if it exceeds the ceiling) or purchased (if the floor was punching) in dollars.

Thus, in the case of disadvantages, Guido Sandleris can avoid the body's loss of weight to body-weighted body care and relaxation, or on Tuesday.

In December, the Central Bank Board of Directors announced the protocols that had been lost in the dollar $ 50 million including daily purchasesWhen the treaty was signed up against 150 million euros.

Check by, the money authority said that they will act on the exchange rate "There is only one market". On Monday, the weight of the dollar in a few minutes, the exchange operator appeared to look like the Central Bank, but it did not happen. "There was only a slight impact, but down but it was not "& # 39; unite & # 39; market ", opinion of the entity.

Sandleris was always close to talking about the possibility of intervention in dollars, the purchase mechanisms, in principle, required to make these purchases, should be printed. the size of the base of money would increase. If the evolution of this indicator has been maintained, it is money policy.

For this reason, the agency branch also set the ceiling for purchases that take into account the base. "The monetary expansion due to the purchase of the dollars can not exceed 2% of the base income of January, that is They are $ 27,000 million, and the exchange rate of $ 37 would be $ 730 million"He commented on EcoGo Director, Federico Furiase.

The final purchase of dollars for the recruitment or absorption of new freight charges will be the instrument of the Central Bank's settlement letters (Leliq) and is negotiated daily with financial institutions. Monday, an organization led by Sandleris 59% interest rate drilling Thanks to these tools, the monetary policy rate is lower than the end of August.

The Ministry of Finance announces in its official presentation that it will develop a mechanism during the first quarter it will sell surplus dollars in the market, since the amount of the debt was higher than the level of forecasts for the upgrade and the NMF fund deliveries.

"The Treasury will have a surplus of dollars in 2019. Mechanisms needed to tackle the back-up of the money back mechanisms It will be announced during the first quarter", A document that outlines Financial Financing, which will be the financial program for this year and 2020.

In this way, the Government try to give the investors certainty In the coming years, the Argentine economy might consider it necessary, at the end of last year, a record of Macrias was one of the sources of uncertainty that caused the country's risk.

"The 2019 financial program does not yet show the need to obtain financing in the international capital market," said the presentation. He also expects the debt to be borrowed by the NDF in 2020 and home equity enough to cover the need for dollars.

Source: TN


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