The new Central Bank policy began on October 1 and was not implemented at the exchange rate of intervention Everyone looked more $ 44 on the ceiling than $ 34 on the floor (wholesale market). In the last quarter of last year, it was updated on the day of 3% a day, until 2018, until $ 37,12 and $ 48,08.
But at the beginning of December, the currency entity reduced its rate of up to 2% until March. This means that, at the end of the first quarter, The band's minimum value will be $ 39.39. The ceiling, which is currently far away, will reach $ 50.97, up 35% of the current 37.30 day value.
At the end of January, the limits of this band will be $ 37.86 and $ 48.99 in February, between $ 38.61 and $ 49.97 and $ 39.39. and $ 50.97.
The smallest adjustment rate in the market and the growth of inflation expected by the Central Banks. The exchange rate with the group is not behind, as happened in 2017.
As agreed with the International Monetary Fund, Central can not buy or sell any currency. It only needs to escape from non-currency intervention groups. So if the dollar exceeds the band's upper limit, the BCRA will make $ 150 million of sales per day (although it has already said it will cost $ 50 million).
On the other hand, if the floor is perforated, It happened on Monday and could happen on Tuesday, Central may buy foreign currency through an auction mechanism, US $ 50 million. Injectable weights are not absorbed in daily liquids offers.
Still following the dollar trend in 2019 to keep track of the bands, electoral uncertainty may shift to those who approach the elections.