It should be remembered that on Tuesday he had sacrificed another $ 39 million, after ending Monday with a positive balance of $ 42 million. Thus, the accumulated negative balance for the month stretched to about US $ 74 million, in any case, significantly less than that registered in previous months during the same period.
The Central Bank’s sales positions were supplying the authorized purchase orders early on, which did not receive an adequate response from the genuine supply side.
Thus, the official interventions were directing the correction of prices, stopping the rise when they reached highs at $ 80.17, a level that was not sustained until the end of the day, they commented from the square.
The current mini devaluations of the peso that the BCRA validates, with the aim of not delaying the exchange rate, occur in a context of low entry of genuine dollars, highlighted from the market.
“The expected reaction of the genuine offer is not verified in practice and, consequently, the shortfall forces the monetary authority to supply it with the use of its own resources, something that is expected to begin to reverse in the last month of the year,” he projected analyst Gustavo Quintana.
The volume traded in the foreign exchange market rose by 25% to the limited US $ 164 million.
“Surely, it will be more important for the reasoning of the economic team, to keep the value of the dollar competitive, without having to make a maxi-devaluation, waiting for an early agreement with the IMF that will give it enough air to face the market with greater tools. future, “commented analyst Carlos Risso from” The city inside. “
In this framework, gross international reserves fell by US $ 47 million to US $ 39,070 million. In this way, a streak of two consecutive raises was cut.
Stock exchange dollars
With the market focus on the balance of daily interventions of the Central Bank -which was negative again- and the dynamics of its reserves, the financial dollars scored new increases yesterday, with the “counted with liqui” climbing for the fourth consecutive day, amid increased demand in response to the fall they suffered in recent weeks as they deflated to levels close to “solidarity”.
The dollar CCL rose 0.6% (83 cents) to $ 149.10, bringing the spread against the official one to 86%. With more force, the MEP dollar, or Stock Market, advanced 1.3% ($ 1.85) to $ 145.95, with a gap compared to the wholesale price of 82.1%.
In addition to the dynamics of the monetary authority variables, investors closely follow the Government’s negotiations with the IMF.
“The focus remains on the negotiation process with the IMF,” said the operator, adding that “structural changes that help to correct fiscal imbalances could be well received in the debt market and will probably help to regain investor confidence. “.
Meanwhile, investors digested the half-sanction in Deputies of the bill on a unique and extraordinary contribution of great fortunes, at a time when global markets showed less aversion to risk after progress in the development of the vaccine against Covid -19.
“Given the delicate fiscal situation in Argentina, the Government opts once again to increase taxes. This time, the debate focuses on the tax on large fortunes. Again, the focus is far from a credible and healthy reduction of the public spending, “said Iván Cachanosky, an economist at the Fundación Libertad y Progreso.
In the informal segment, the blue dollar rose $ 1 this Wednesday to $ 164, according to a survey conducted by Ámbito in caves in the city of Buenos Aires. The parallel bill had bounced another peso on Tuesday, after sinking $ 10 on Monday.
Consequently, the exchange gap with the official wholesale dollar remained above 100% (at 104.6%).
The blue had risen strongly between Wednesday and Friday of last week due to the resurgence of demand, which found no support in genuine supply. Let us remember that on Tuesday of last week, the exchange rate gap had fallen to 87%, while at the end of last month it reached 150%.
In the ROFEX futures market, the dollar closed with small drops in all terms, with interventions by the BCRA for the end of December and next January.
In this way, the currency for the end of the month ended with a rate of 40.61%, the dollar for January closed with a yield of 56.87% and for February, with a return of 63.08%. S and they operated about US $ 356 million.