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The Central Bank is accumulating purchases worth US $ 330 million so far in May

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The Central Bank is accumulating purchases worth US $ 330 million so far in May

The blue dollar fell to $ 201.

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The Central Bank seems to have rotated the foreign exchange market and in the three days that have passed in May it has been able to accumulate purchases for $ 330 million, he pocketed more than double the whole of April.

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This Wednesday, with the dollar alternatives calm, he was able to add $ 90 million and thus rounded up US $ 330 million so far this month. This is the highest record so far for 2022.

In any case, this is a low number considering that in the first four months of the year, agro-exporters liquidated more than $ 11 billion.

In the same period of 2021, Central has accumulated $ 3.2 billionthus increased doubts about whether the monetary authority will be able to fulfill the promise assumed to the Monetary Fund to increase reserves in $ 5.8 billion this year.

“Despite the fact that BCRA has extended purchases, operators’ concerns are not disappearing because they are accommodating to the rate of accumulation of reserves in this second quarter, since after that period will begin the typical scenario of less supply of foreign exchange from the countryside, ”said economist Gustavo Ber.

Lower the blue dollar

The blue dollar cut the bullish streak of the previous two rounds and dropped one peso and fifty, to trade in. $ 201. Cash also fell with liqui, with a decline of 1.7%, to finish $ 205.10. The only one that showed a slight increase was the MEP, which advanced 0.3% to close $ 206.21.

“After the recent spike, the financial dollars will enter a stage of lateralizationwhere investors are still attentive to external and internal events to regulate the restructuring by recognizing that the high nominal value of the economy -as a result of the inflationary scenario- is driving the bottom, ”he said by Ber.

Argentina’s assets moved lower than an expected day at the global level due to the Federal Reserve’s decision, which finally raised the interest rate by 0.5%, the highest increase in 20 years.

Argentina bonds fell around 1% after rising as much as 3% on Tuesday. Also most local stocks listed on Wall Street showed declines. The biggest loss was for Cresud with 3.9%. In Buenos Aires the Merval decreased by 0.2%. The risk in the country dropped 0.4% to 1,788 basis points.

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Source: Clarin

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