Private purchases of US currencies due to excess liquidity in Letes' latest tender put pressure on the dollar It shot up 3% ($ 1.20) this Thursday to $ 40.24 at banks and agencies of the city of Buenos Aires, according to the average of ambito.com.
In this way the ticket accumulates an advance of 6.1% ($ 2.30) on the last four wheels.
It was in accordance with the Single and free exchange market (MULC), where the currency gained 3.4% ($ 1.30) $ 39.55, the highest level since the exit of the convertibility, despite the fact that the Central Bank sold US $ 39 million in the last minutes of the wheel.
"The monetary authority ran the dollar unnecessarily and intervened recently when it reached a $ 1.50 devaluation of the peso," said Mercado de Cambio.
During the wheel, the currency returned from the beginning very voiced, in a scenario that is again characterized by the scarce supply of foreign currency. The prices had a rising journey during the day that exceeded almost all previous records and with a considerable amplitude between maximum and minimum.
The $ 38.20 included with the first agreed transaction was converted into the lowest values of a session that had a very active coverage demand without counterpart to the real offer. In that sense, the prices were consecutively climbing and exceeded the levels reached in the previous closing with relative ease.
Once the $ 39 barrier was crossed, the exchange rate accelerated the bullish correction and attempted to reach the $ 40 mark, reaching maximums at $ 39.90 before marginal official participation. The sale of the Central Bank, effective just a few minutes before closing, hardly corrected the rise without causing a fall to reverse the trend. However, the volume remained low: it rose by 7% to just US $ 440 million.
"The dollar for now will continue to rise because the low supply of exporters does not cover the demand from banks, corporations and investors seeking coverage for next week – on Tuesday 18, she defeated Lebac with a very important figure in pesos and still the investors' intentions to continue with this placement or to transfer to dollars – are not clear, "said Fernando Izzo of ABC Mercado de Cambio.
The shooting came a day after a mission from the International Monetary Fund (IMF) arrived in Buenos Aires to work with the Argentine government in the reinforcement of the financial program agreed between the two parties "in the light of renewed financial volatility and a challenging economic environment".
The market was also nervous because of the statement by the director of the National Economic Council of the White House, Larry Kudlow, who advised Argentina to "bind the peso to the dollar" as in the years of convertibility or directly dollar. economy, as the only way out of the crisis. This statement was later rejected by both the Ministry of Finance and the Central Bank.
The local square was disconnected from the world, where the dollar fell to a minimum of nearly a month and a half against a group of currencies, after data showed that consumer prices in the United States increased less than expected in August, thus moderating the outlook for operators of an acceleration in inflation.
The dollar index fell below its 100-day moving average, seen as a bearish signal, to a six-week flat of 94,428. Then it quoted with a loss of 0.26 percent to 94,551.
On the money market between banks, the call money continued to work with an average of 59%. In currency swaps, $ 88 million was agreed to take and / or place funds in pesos by using dollar purchases for Friday and Monday. The Lebac speeds in the secondary circuit remained stable in their revenues, with the 6-day rate at 59.50% and the 34-day rate at 60%.
In the Rofex, where $ 455 million was managed, more than 65% was agreed for September and October with final prices at $ 40.50 and $ 42.10 at a rate of 51.57% and 49.02% TNA respectively.
On the other hand, the blue one It climbed 2.6% to $ 39.50, according to the research of this medium in caves in the center of Buenos Aires. Similarly, the "contad con liqui" climbed 3.3% to $ 39.91.
Finally, the reserves of the Central Bank US $ 88 million fell to US $ 50.529 million this Thursday.