Despite the dollar-soybean record, reserves increased by only $ 891 million in September

For the implementation of soybean dollarin the month of September the foreign exchange balance of foreign trade recorded a surplus of 6,948 million dollars “Explained by historical register of export collections for USD 12,891 million and import payments of USD 5,943 million “.

The sector oil seeds and cereals totaled sales of foreign currency in the month for receipts from exports of goods through the foreign exchange market for $ 8,565 million, an increase of 197% year-on-year according to the exchange rate of the Central Bank.

in any case, the Reservations of the Central Bank increased by only US $ 891 million, ending the month at a level of US $ 37,625 million.

This happened mainly because the service account logged in to deficit of US $ 1,075 million “Mainly explained by the net expenses for travel, tickets and other card payments”And freight and insurance for $ 726 million and $ 550 million respectively.

The BCRA clarified that “so far this year the services account has an accumulated deficit of $ 8,193 million, which represents an increase of 243% over the same period last year”. And this is “mainly driven by the growth in gross expenses for travel, tickets and other card payments“and, to a lesser extent, freight and insurance against a backdrop of higher prices for international freight”.

Other reasons that led the reserves not to increase further were:

+ Net interest payments were $ 387 million: $ 164 million was made by the general government and the BCRA, while the private sector totaled $ 236 million.

+ Humans bought tickets for $ 195 million, 24% less than in August due to new restrictions introduced in mid-September. One million people bought tickets while only about 25,000 sold.

+ Payments were made to the International Monetary Fund for the equivalent of US $ 2,602 million (SDR 2,014 million).

+ US $ 792 million in the dollar price of the assets making up the reserves due to the depreciation of the euro and the Chinese currency.

+ Reduction of entities’ deposits in the BCRA by approximately US $ 500 million.