The Central Bank had to sell US$92 million of reserves to supply demand in the official exchange market. It’s about the first reservation sale since March 19, 40 days ago, despite the positive seasonality for foreign exchange settlements by the soybean sector.
Despite the negative result, the monetary authority accumulates net purchases of reserves through the official exchange market for US$3,154 million so far this month and US$ 14,530 million since the devaluation jump that the Government ordered in December.
After the rate cut, money market funds rotate their portfolios to sustain returns
The sales of reserves occurred on the day in which barely $282.17 million were traded in cash and the Central Bank ordered an increase of $1.5 for the official wholesale exchange rate to place it at $876.50. compensate for the inactivity of the previous two days and maintain the devaluation rhythm.
“On a wheel with unusual every In the amount negotiated, despite being the penultimate of the month, the supply of foreign currency seemed weak in part due to climatic factors that made harvest actions difficult and unions that came together to compress genuine income,” commented the operator Gustavo Quintana.
