The blue dollar deflated this Thursday and it dropped 5 pesos to $373on a day in which the Central Bank got rid of $47 million, bringing the negative balance for March to over $240 million.
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In the midst of the decline in reserves, the Central Bank has extended a measure that penalizes agricultural producers
In the midst of the reserve drain, the Central Bank decided this Thursday to extend the deadline of a measure which “penalize” with more expensive credit agricultural producers to collect and not liquidate their crop. This is a controversial decision made in September of last year, as part of the first edition of the soybean dollar program.
The original rule, A7600, established “a minimum interest rate 120% above the LELIQ rate for soybean producers” who liquidate no more than 95% of their crop. The measure then applied “to all lines of financing in pesos, whatever the form of instrumentation, and is complementary to the program launched by the government for producers to settle soybean exports in foreign currency at 200 pesos per dollar”. To know more.
The blue dollar closed Thursday at $373
A day after a day in which the blue dollar skyrocketed by 7 pesos, the parallel currency dropped by five pesos on Thursday and closed at $373.
Source: Clarin
