The trend extended to the fourth month of the year and confirmed what happened during the first quarter.
The trend of selling the dollars that were saved to make ends meet is consolidated. In the fourth month of the year, what happened during the first quarter was confirmed: Argentines who sold their dollars through official channels were more than those who bought hard currency.
This scenario finds its support in the adjustment of the national government and in the recession that Argentina is going through. The data comes from the Exchange Balance published by the Central Bank (BCRA) in which it details the operations of natural persons for the month of April.
Purchase and sales figures
According to the official document, the “Human Persons” made sales in April for US$14 million and bought tickets for US$9 million. That is to say, there was 12% less than in March and 94% less in interannual terms.
Regarding the number of people who operated in April, 208,000 individuals sold tickets, while about 51,000 bought them.
The trend extended to the fourth month of the year and confirmed what happened during the first quarter: Argentines who sold their dollars through official channels were more than those who bought hard currency, which was barely 51,000.
The moderation of inflation
The Central Bank’s Exchange Balance shows that savers were forced to sell their dollars to meet current expenses, especially in the harshest months of adjustment and high inflation.
However, analysts consider that this measure will be sustained over time despite the moderation of inflation, since according to private consulting firms the figure for May will be close to 5%, but the increases, such as in rents, exceed 100%. % for the same month.
Retail activity in the official market suggests the possibility that many have chosen to sell their notes on the black market or in financial instruments to balance their finances.
This reinforces the notion, repeated on several occasions by the Government, that the country does not lack dollars to escape exchange restrictions and begin a process of economic reactivation, but that it is necessary to ensure that the hoarded dollars enter the financial system.
