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

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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 “.

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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.

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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.

Source: Clarin

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