The amount traded in the cash segment of the wholesale market discounted some USD 85 million compared to Thursday, at USD 319.5 million, with purchases from the BCRA for 60 million dollars. In the five operational rounds of the week, the entity accumulated a balance in favor of USD 654 million for his intervention.
The monetary entity accumulates a balance in favor for its exchange intervention of USD 3,246 million so far in April, in the sixth month with positive results. In the absence of three rounds of business in the wholesale market, this balance already exceeds the net purchases of February (USD 2,357 million) and March (USD 2,882 million).
Since Monday, December 11, after the inauguration of Javier Milei, the monetary entity carried out net purchases of 14,666 million of dollars. The Central only made sales in three operational rounds starting on December 11 – and the one on Friday the 19th was the only one with a neutral balance – since Santiago Bausili assumed the presidency of the organization.
On the other hand, the Bookings international markets ended with a rise of USD 42 million, USD 30,137 million, at a maximum since June 29 of last year (USD 30,785 million), about ten months ago. Gross reserves improve under the administration of La Libertad Avanza by USD 8,929 million (+42.1%) from USD 21,208 million on December 7.
“On the external front, the Central Bank continues to make purchases in the Free Exchange Market and net reserves, subtracting Bopreal payments for the next twelve months, are already almost zero – about negative USD 400 million. Although USD 2.8 billion expires next week with the IMF and the BCRA stock will fall again, Argentina remains on track to meet the reserve goals of the program with the Fund,” explained the experts from the Consultant 1816.
“Operators remain attentive to the slower pace that BCRA purchases have been interspersing in some wheels due to the fluctuations in volumes and the greater participation of importers, even though it is trusted that this respite would be temporary in the face of the next acceleration of the liquidations of the coarse harvest,” stated the economist Gustavo Ber.
“As has happened before, the new decrease in the BCRA rate is awakening a modest rearrangement of financial dollars, which could once again be ephemeral to the extent that the scenario of excess supply, restrictions on demand, continues in the background. and the harsh recession – together with the monetary squeeze – that lead to the ‘decanuto effect,'” said the head of Estudio Ber.
“The liquidation of agriculture is a little slow, on the way to closing April at less than USD 2,000 million, less than the above USD 3,000 million of the last two years, and the USD 2,500 million average of the last 10 years. In fact, according to official data, the main crops have been selling less compared to the harvest, especially corn, only 31% of the 52 million tons produced were sold, compared to 42% in the 2021/22 campaign – year without drought. For May and June there is usually a seasonal improvement in settlement and it would exceed USD 3,000 million per month in both months, as the signs continue that there will not be an imminent devaluation jump,” indicated the consulting firm. FMyA.
The bonuses Bopreal (Bond for the Reconstruction of a Free Argentina) Series 3, which is issued by the monetary entity and is used to pay the debt with importers, they had a tender that shows that they lost their initial strength. In this week’s tender, 113 million dollars were placed. After this meager result, the Central announced that it is evaluating whether companies that have to distribute dividends or distribute profits abroad participate in the next tenders. This bait could be effective in the next tender on May 6.
