Argentina was left out of the euphoria over Biden and the Central Bank continued to sell dollars

 Argentina was left out of the euphoria over Biden and the Central Bank continued to sell dollars

Façade of the Central Bank, in downtown Buenos Aires (EFE/Juan Ignacio Roncoroni/Archive).Controls and interventions are running out. The National Securities Commission, in its effort to help the Central Bank, suspended a market agent for “operations that obey an elusive and systematic behavior”, a phrase that translated implies that he operated alternative dollars outside the market and, of course, the screens, to avoid the imposed limits. Perhaps they think that a part of those operations were with their own portfolio, something that the Central prohibited a few months ago.The Central Bank, headed by Miguel Pesce, is realizing that, with the sale of bonds and the increased hardness of the stock, it is not enough. In fact, for the second day in a row, it had to sell dollars in the wholesale market to satisfy a delayed demand from importers, without exporters liquidating foreign currency at the other end, despite the better prices of soybeans and corn in Chicago, beyond yesterday’s drop that, in the case of soybeans, reached 1.28% and closed at USD 503 per ton.The pace of devaluation continued unabated. The wholesale dollar rose 13 cents to $86.35 and USD 198 million were traded. The volume in this market was so low that the Central Bank had to sell USD 50 million to contain the demand of those who claim foreign currency to supply key inputs for economic activity.Thus, the reserves were affected; pe
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