In the sixth wheel from the leaving of the stocks, the Central bank did not intervene in the official change marketon a day in which the exchange rate in the wholesale segment accentuated the upward trend and closed in $ 1,151 for purchase and $ 1,160 for salewhich increased $ 56 regarding the eveand moves away from the $ 1,000 floor from the flotation band.
In turn, International gross reserves recorded a drop of US $215 million in front of the previous day.
Why the Central Bank reserves fell
The gross reservations stock went down this Wednesday U $ 215 million regarding the previous day, and reached an amount of U $ 38,631 million. In this way, they remain at maximum levels in more than two years.
Sources from the monetary entity, explained that The daily descent of reserves “is due to the effect of falling from the variable contributions that make up the reserves, including gold.”
And in recent days The gold went up because investors got rid of dollars And they sought refuge there amid uncertainty for international trade war. And the gold rise was one of the factors that had promoted the rise of reserves.
But Gold futures began to fall after yesterday United States president Donald Trump said tariffs imposed on China They were very high and that they did not go, which is why they were going to gradually go down during the next months, and also pointed out that it does not plan to say goodbye to the president of the Fed
In this way, gross reserves record so far in April an increase in US $ 13,579 millionpromoted the entry of the first disbursement of the IMF by US $ 12,000 million, and a world bank turn by US $ 1,500 million.
In turn, theS gross reserves show so far this year an increase of US $ 9,019 million.
PPI analysts estimated that due to disbursement net reserves that are used to measure the IMF goal, which does not contemplate as a short -term liabilities the treasure deposits in the BCRA and the 12 -month Brepreal payments, they went from negative land to be positive around AU $ S5,527 million as of Wednesday, April 16, The greatest amount since the end of January 2023.
In this context, the Consultant 1816 He argued that “as Argentina still has debt maturities and at the moment you cannot access the debt market, while the BCRA does not buy in the Mulc not only will not accumulate net reserves but will lose them.”
“While the BCRA is kept without intervening and the country remains without accessing the voluntary rollover, net reserves can only go downFor the net reservation goal of the agreement, you have to accumulate US $ 4,900 million here in mid -June. For the fulfillment of the goal, the IMF disbursements or extraordinary disbursements of organisms are not counted, “he said.
In that context, the consulting firm 1816 stated that “in our base stage the BCRA and/or the treasure put buyers within the band sooner rather than later.”
Dollar: The Central Bank added another wheel without intervention
It is the Sixth consecutive that the BCRA remains absent in the exchange marketthat is, he did not buy or sell currencies. And it is that the official plan is to expect the exchange rate to go to the band’s floor and only there that the monetary entity goes out to buy. And the wholesale dollar today closed for sale at $ 1,160, which moved away from the floor of $ 1,000 of the band.
The operator Gustavo Quintana, of PR changes, indicated that the operated volume Today in the cash segment it was US $ 645,139 million and in the future market rum US $ 1,414 million
Quintana indicated that the volume operated “It is the second highest of the month after the registered on the 11th of the current“Prior to the announcement of the new exchange scheme and the length of the headache for natural persons.
The operator commented that it was a wheel in which The dollar operated “again with marked volatility and trend changes throughout its development, but with mastery of demand, justifying the adjustment of the date. “
“Today’s minimums were scored at start -up $1.095,00. The purchase orders for the payment of obligations with the outside and position coverage were intensified throughout the day, pressing on the price that was moving away from the initial minimums, “he said.
Quintana said that “In the second part of the session the demand became stronger and led to maximum values in $1.165,00 per unit in the last half hour of operations, and opportunity sales registered almost on the closure carried the price to end the day at $ 1,160 per unit. “
“With a good level of activity in the spot and futures market, the exchange rate still does not seem to find a range to accommodate with relative stability and balance. The flotation within a very wide band is marked these days by a large dispersion and continuous changes in tendency, without defining a more or less stable trajectory,” he said.
As for the prospects for the next few days, Quintana said to iprofesional that “it seems to me that the volatility is installed and will continue for a few days”, and estimated that “surely the agro -export sector feels more comfortable with a dollar at these levels.”
Andrés ReschiniF2 financial solutions agreed that “We are with a flotation exchange scheme that is very different from the one before and within the bands it is logical that we see fluctuations “Poer believes that” there are chances that the dollar goes to look for the lower band. ”
