The blue dollar was up five pesos on Wednesday and finished the day at $423. On this day, the Central Bank sold US$197 million in the official foreign exchange market and exited the buying spree that began last week.
New in development
Dollarisation, inflation and the electoral campaign, axes on the agenda of the Llao Llao Forum
Far from being an exclusive “retreat” for the country’s top businessmen to think about Argentina’s future, this year the Llao Llao Forum was marked by the most urgent situation: the rise in the dollar, which in the three days del event added $ 23, the interior of the opposition candidates and the huge political crisis of the ruling party, which affected the meeting in which he sought to promote dialogue.
Located in an almost heavenly spot on the outskirts of Bariloche, the emblematic Llao Llao hotel saw the owners of the country’s most important fortunes parade on Monday. Even to the main opposition candidates, who expressly went to the Patagonian city to present their government plans and discuss hand in hand how to get out of a crisis that has lasted for too many years. To know more.
To cover the demand for pesos due to inflation, the government will import banknotes from France, Malta and Brazil
Out-of-control inflation forces the Mint to look for -literally- global printers because local production is no longer enough: it has been known that it will import 1,000 peso banknotes produced in France, Malta and Brazil.
The organization, which has been owned by Ángel Mario Elettore since January this year, has opened a tender for transport on May 2, which includes up to eight flights from Malta and six from Paris, the French capital. Another shipment, scheduled for the next day, involves the shipment of tickets from Brazil: the shipment will leave by sea from the port of Rio de Janeiro.
As revealed by the specialized portal Bloomberg Línea, more than 250 million tickets will arrive from France and Malta alone. The massive importation is the result of a series of printing contracts that Casa de Moneda has with its colleagues in Brazil (Casa de la Moneda), Spain (Fábrica Nacional de Moneda y Timbre), and the China Banknote Printing and Minting Corporation , in through inflation which puts more and more banknotes into circulation. To know more.
The Central Bank sold $197 million and agriculture clearance is still very low
In a day of renewed tensions on exchange rates after the political crisis that caused the resignation of presidential adviser Antonio Aracre on Tuesday, the Central Bank sold 197 million dollars on the official foreign exchange market and interrupted the series of purchases that began last week. The main reason was the poor liquidation of agricultural currencies, despite the validity of the soybean dollar at 300 dollars for 8 days, with which Sergio Massa bets to stop the drain on reserves.
During the conference, 358 million dollars were traded with a proceeds of 161 million dollars, but the operators assured that the contribution of soybeans was nil. “There was no soybean III dollar revenue today, the BCRA had to sell $197 million, the second highest amount of the month. The BCRA red of the month is now in the order of $244 million and the annual is approximately $3,222 million,” said operator Gustavo Quintana, of PR Cambios. To know more.
Source: Clarin
