The Central Bank bought US $ 520 million a week.
In the last round of the week, the Central Bank bought US $ 80 million and completed it $ 520 million in the first five days of May.
Thus, the financial authority began to reverse the poor performance of the first quarter, when it only achieved a favorable balance after its interventions in the Single and Free Foreign Exchange Market. US $ 150 million, only 15% of all he harvested in the same period of 2021.
In these purchases, the total reserve is located at US $ 41,797 milliona collapse of US $ 400 million in two days prompted the repayment of debts.
Central purchases are possible amid a strong liquidation of added agriculture $ 1.2 billion a week. In the first quarter, agriculture liquidated US $ 11,000 million.
The higher inflow of foreign exchange has also allowed the alternative dollars to silence, which in recent weeks have ended the exchange rate pax rising by more than $ 210 and in these last rounds they have retreated.
Central’s difficulties in increasing reserves are related to the increased demand for foreign exchange by importers –even with force-restrictions, the increase in energy imports due to the war in Ukraine, the jump in the tourism deficit due to travel abroad and the increased cost of freight among the global conflict.
LangEconomists estimate that between May and June the Central Bank should add between US $ 2,000 and US $ 3,000 million to meet the purpose of the reserve established in the agreement with the Monetary Fund. This goal assumes that the year should end with net reserves of $ 5.8 billion in the middle.
Although the data for May is lucky, analysts point to that the greatest difficulty in increasing reserves is in the second semesterwhen for timely reasons the strong extermination of agriculture was shut down.
The agreement with the IMF also limits the possibility of restricting imports and provides a dollar at the level of inflation.
AQ
Source: Clarin
