The reserves lost USD 744 million and remained at 36,543 million because the IMF had to be paid USD 975 million. The Central Bank anxiously awaits future disbursements from the international organization to compensate for the great losses of the last rounds.
Added to this novelty was the second consecutive sale of dollars in the wholesale market. The BCRA had to get rid of USD 58 million because exporters no longer liquidate soybeans. In two days it sold USD 92 million.
“The Central Bank is going back to the times when in daily movements it lost USD 140 million for sales to importers. If today it had to sell USD 50 million, the rest is being given by the market, the analyst pointed out. Salvador Vitelli.
In the local square, the markets lost strength before closing because many left before the end of the wheel to take advantage of the long weekend. The exception was the exchange square because there were emergencies. The bonds used to operate the alternative dollars, the AL30 and the GD30, fell by up to 0.9%, but since the pesos were in high demand, the supply of dollars was higher than usual and the MEP lost $4.25 (-1.4%) to $293.25, while the cash with liquidation left $2.55 (-0.8%) on the way and closed at $307.12. The amount negotiated in both dollars was high: USD 208 million.
The “blue” was also affected by the absence of buyers and operations and fell $5 to $277.
“There was a need for pesos and so much so that they saw the rates of bail rise, particularly those of 5 days for the long weekend. The intervention of the Central Bank in this drop in the dollar must be ruled out,” said Vitelli.
In the wholesale market, the rate of devaluation was maintained and the dollar increased 32 cents to $149.24.
“The message that the Central Bank sends us is that it will continue to defend the crawling, Even if it takes reservations. In fact, the result was from highest to lowest so far this month. It started with purchases for USD 45 million and has now sold USD 58 million. We have already seen that this scheme is ineffective for accumulating reserves. In the futures markets, devaluation expectations fell in the shortest part of the curve”, said the financial analyst Andres Reschini.
The bonds, meanwhile, had a day of peace and for this reason the country risk increased only 3 units to 2,771 basic points.
The Stock Exchange traded just $1,518 million and the S&P Merval, the leading stock index, followed the world trend and closed down 1.41% in pesos and 0.6% in dollars.
The ADR’s -certificates of holdings of shares that are listed on the New York Stock Exchanges- traded $4,721 million and falls prevailed at the close.
Neither today nor Monday there will be markets in Argentina, so the key data of the unemployment rate in the United States will not influence.
Next week Argentina will have its ordeal: September inflation and a new rate hike will be announced which can take them close to 80% per year.
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