The Central Bank bought $ 80 million, the highest amount since June

The Central Bank maintains its positive streak: this Wednesday it bought $ 80 million in the single and free foreign exchange market (MULC) and thus links five consecutive buying cycles. Today’s trade was the strongest since June.

Thus, the Central pocketed $ 120 million on five wheels and reduces the after-sales balance by US $ 800 million in the first part of the month.

This trend change is a consequence of the decompression of demand from fuel importers. With the tightening tightened on foreign purchases, fuel imports hovered around 2,000 million dollars in July, they took most of the currencies that Central has put into play in each wheel.

The good result of the plant was also supported as, after the holidays of Monday, Tuesday and Wednesday, the liquidation of exporters was concentrated. On Tuesday, agriculture helped 300 million dollars This way.

From the Cereal Exporters Center (CEC) they reported that government measures have been put in place to anticipate the liquidation of the foreign currency. The initiative seeks that cereal companies putting dollars in banks in special accounts for export advances that can be settled within a period of up to six months, which will allow them to obtain a better exchange rate.

“The first operations of special and correspondence accounts in dollars for pre-financing and advances on the basis of the latest circulars of the Central Bank had a positive balance“, flagged by the CEC Twitter account.

“Although there are still some drawbacks in banks to open special dollar accounts, This scheme will continue to be used by exporters in the future. “

With this incentive, the plant seeks to anticipate exports of at least 1,000 million US dollars in the coming days and thus strengthen the net reserves, which are less than US $ 1,000 million.

“Despite the truce of the last wheels in the balance of the interventions, net bookings continue to be under pressure and hence the urgency to reverse this dynamic through strategies aimed at a greater supply of foreign currency “, said economist Gustavo Ber.

The blue dollar rose

The blue dollar rose a peso on this wheel and ended in $ 292. There were also around 2% increases in financial dollars, which closed above $ 280.

Reached the countryside with liqui, the dollar used by companies $ 284.1while the MEP dollar, which is listed on the Buenos Aires stock exchange, is listed at $ 280.7.

In the official segment, the US currency reached $ 142 in sales and $ 134 in purchase in the wholesale segment.

“From higher bets towards the carry tradeeven shortening the deadlines compared to the past for the related risks and the meticulous timing required, is that the financial dollars risk resuming a retraction, beyond the fact that the space for this path would already be more limited and also requires concrete progress in convergence economic imbalances, “Ber said.

the country risk increases

Country risk, the JP Morgan indicator that measures the overrate paid by Argentine debt, rebounds by 2.2% and reaches 2422 basis points. It is the consequence of the fall in stocks which today fell by more than 3%.

“Bonds are under pressureand this is how they lose on average 1% of their dollar prices among the main references, with the country risk still hovering around 2400 basis points, since after the wait for the new economic team an attitude of ¨ wait and see ¨ among the operators as well as the stocks they still exhibit penalized parities “, specified Ber.

AQ