The BCRA bought again in the wholesale market and chained 12 positive wheels

The BCRA is heading to end August with a strong negative balance in the market.

The BCRA bought only USD 1 million in the wholesale round, in a session with businesses in the cash segment (spot) for 294.8 million dollars. The entity completed a week with purchases of the order of USD 160 million in the week.

Even after having scored a series of twelve positive interventions since last August 10 – for a total of about $308 million-, the Central Bank maintains in the course of August net sales in the interbank market for some 537 million dollars.

The monetary entity faces a 2022 that returns to positive in the exchange market with net purchases of USD 70 million, although this amount represents only 1% of the net balance in favor in the same period last year, of about USD 7,266 million to 26 August 2021.

The Bookings international gross grew by USD 24 million on Thursday and ended in 37,026 million of dollars.

Gonzalo Gavinafinancial adviser of Portfolio Personal Inversiones, expressed that “in recent days, a kind of positive streak has been seen, with good signs regarding the accumulation of reserves and also with sovereign bonds rising for the fourth consecutive round”.

“Clearly, a good climate of expectations has been created, with the soybean dollar in the sights, since, if it manages to encourage agriculture to liquidate, it would increase the stock of reserves of the Central Bank. For now, the market is giving the ruling party the benefit of the doubt, after the arrival of Sergio Massa and Gabriel Rubinstein at Economy,” Gaviña pointed out.

“Every time they extend the most neutral balances in the BCRA interventions in the last rounds, possibly due to greater restrictions on imports, it is that the operators remain attentive to a greater supply of foreign currency either through greater liquidations of the field or funds fresh from abroad”, commented the economist Gustavo Ber.

The Central Bank will extend, at the end of next month, the battery of measures that he ordered at the end of June to stop the outflow of dollars for payment of imports and that involved a hard blow not only for production but also for prices.

The limits imposed at the end of June essentially establish that the products that enter the country under the automatic licensing regime have access to the foreign exchange market for the equivalent of the monthly average of imports of 2021 plus 5% or 2020 plus a 70%, while products under the non-automatic licensing system can access the official foreign exchange market only 180 days after the dispatch of the merchandise.

the minister Serge Massa He will travel the week of September 6 to the United States as his first trip abroad as a minister, to visit Washington and Houston where he will hold meetings with the IMF and businessmen, according to his previous agenda.

The government is considering requesting a loan from the IMF under its new Resilience and Sustainability Fund (FRS), designed to help countries ensure sustainable growth, he told Reuters a source with direct knowledge of the conversations.


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The Central Bank will extend until the end of the year the restrictions on the payment of imports
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