Wednesday , October 20 2021

With the IMF agreement, Chinese exchanges can not stop the debt or take part in the exchange market


Yuan has USD7,725 million of minimum use, the FMI does not allow these currencies to pay off debt or to participate in the exchange market. The only use is to participate in the exchange of trade between Argentina and China, as it does in Brazil, which pays for what has been bought in reality. China's annual deficit is around USD5 million, but represents a realityThere are few operations with Yuan and Pesos.

The problem is that Argentine exporters should be paid at the Yuan and import quotas. At the end of each month, the differences would be offset. but It is not advisable to use a coin with Argentine coin or vice versa, and many do not want to triangulate Yuan and Pesos dollars.

As with Brazil, commercial exchanges are commercial transactions that carry out minimum commercial exchanges. A soy exporter will not pay a yuan, as a payment in each case.

Every time the operations are offset, the yuan is activated and the rate starts at the Shibor (Shanghai Interbank Offered Rate), which costs around 7.60% annually. The rate is applied at the time the Yuan dollar becomes.

"Reserves are fireworks to inflate", they have defined the central bank operator that is accustomed to these movements.

Martin Redrado, the founder of the first Yuan exchange agreement, said the operation has lost its MFN significance. "With the use of Kirchner's government, Yuan said that Argentina did not reach the FFI, it replaced the Chinese delegation, perhaps it should be done with Argentina before signing the agreement with the Fund," said Former President of the IMF. Central Banks

Remember when it's time Luis Caputo He was in charge of the Central Bank those who support this operationbecause it is Access to the country is against MFN. This dissent caused his resignation and occupied his current position, Guido Sandleris.

Therefore, the advent of the yuan did not affect the dollar prices and the Argentine debt prices dropped 1.5%, and their similarity fell in the levels of Macri. Country risk increased by 0.64% to 787 points. The most significant growths were those that were emitted between 2020 and 2014, but it reduces the Bonar 2024 factors, such as a portion of capital, and the interest of the coming year. Because of that Bonar 2024 earnings are 14%, almost identical Discount It will last for 2033. In contrast, 2019 Bonar has a 3.45% return interest rate when the coupon is 6.25% per year. But until the expiration of April 22, the risk is almost null and higher than 100.86%.

On the other hand, when Bonar 2021 won the next government period, it shows a return rate of 9.74%, against a 6.87% coupon. Of course, trading under the same is 94.38 percent.

Country risk is the Argentine cavalry and is a threat to the monetary adjustment plan.

But after black Monday, United States stock exchanges and bonds were more relaxed on Tuesday, the short-term climate was better and the dollar remained stable. Banks and exchanges sold 3 cents to 39.19 million dollars and the wholesale market rose 1 cents to 38.29 dollars. The "Blue" coverage is looking for strong investment for investors. He was 75 cents for $ 39.

The good news was that the Liquidity Letters (Leliq) tender, the Central Bank set to $ 162,652 million. The amount was almost 20 million less than the maturity, which amount was withdrawn from the currency. But the cost was cut to 59.90% (+0.15 points).

The reserves were used against the dollar against the rise in large world currencies. They now have $ 58,637 million, with the dollar falling in the world for $ 24 million.

The international institutions and Brazil payments were $ 43 million.
The stock exchange lost 0.37% with regular businesses, at $ 507 million. The decline is explained by a sharp fall of around 7% on oil. Petrobras (-4.46%) and YPF (-3.83%) are the most affected.

Future indexes may be more peaceful. By midnight, rising and rising Eastern markets. In China, A-50% rose to 0.15, but lost 0.27% of the H by Hong Kong as Han-Seng. Japan works with a neutral tone. American betting stocks were positive. Investors increased 0.38% on the market marketed by Nasdaq; 0.36% Dow Jones and 0.39% to S & P 500. Those who gave negative feedback were stock exchanges in Europe.

The balance of the currency is very balanced, driving the inconvenience to the top of the flotation band.

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