He the blue dollar closed this Monday 4 pesos down to $377, on a financial front shaken by the volatility that the bankruptcy of the regional bank Silicon Valley Bank has brought to the markets.
New in development
At the request of the IMF, the government has agreed to limit intervention in parallel dollars and will put filters on the moratorium
“We closed last night at 11pm.” The sentence released by an official of the Ministry of Economy reflects the vicissitudes that the government has had to face to make the agreement with the IMF more flexible. Squeezed by a lack of reserves and in view of an election year, the Government has had to accept greater restrictions to intervene on parallel dollars, on debt repurchases and on the implementation of the pension moratorium, a measure that has gone badly in Washington.
The Fund has been targeting purchases since January of $520 million of dollar bonds. Now without the help of the soybean dollar, the central bank then contained the financial dollars, but last week they woke up again. Now, according to sources in the Ministry of Economy, “the commitment is that the reserves are not used to intervene on the parallel market” and the repurchase of the debt with reserves is “suspended”, which effectively stopped in February. To know more.
On a tough Monday for the market, the blue dollar was up $4 and finished the day at $377
After starting Monday with a sharp rally that took it as high as $379, the parallel exchange rate finally finished the day at $377.
This is four pesos higher than on Friday, when the blue dollar closed the price at 373.
Source: Clarin
