In a volatile wheel, the wholesale dollar chains a new intra -reduce and It approaches $ 1,100, closer to the band from the band from $ 1,000 to $ 1,400 set by the government. It quotes $ 1,105 near the closure.
Meanwhile, The retail exchange rate reaches $ 1,130 at Banco Nación, While the MEP dollar fells 2% to $ 1,132; And on the street el bluealso bassist, it is positioned as the most expensive price, when sold around $ 1,165.
In the previous one, the official dollar had receded strongly, with a decrease of 6% The most pronounced for a single day From the departure of the CEPO, on April 14. From the opening, the currency had been more demanded, and came to touch the $ 1,134 at noon and then return on its steps to $ 1,102.
“On Wednesday all eyes focused on the exchange rate since from the beginning of the wheel it was observed Seller pressure from the futures marketeven at the beginning we saw negative implicit rates again in the first contracts, which ended up dragging the dollar. It is among the lowest post unification. At the opening already in futures there was an important offer and even positions such as Julio quickly had sales positions well below the closures, “they said in Outlier.
Different market sources agreed that Wednesday’s decline was Forced by an intervention by the Central Bank, To set expectationsbut the monetary authority denied This type of movements in the market.
“We cannot rule out that the government may have intervened in the futures market on Wednesday in order to accompany the movement of the spot dollar. In this way, It would be able to mitigate any type of future devaluation expectation, validating the idea that the official dollar approaches the band of the band and adjusting the implicit rates to reestablish the Roy Trade attractiveness“They said in PPI.
In Delphos they questioned these types of rumors: “Many versions found about what happened, both in the spot market and in the weight curve of the weight. From the opening of Carry Trade positions of a foreign actor at the intervention of the BCRA. The latter is limited by the agreement with the IMF and would be meaningless with a spot price that was not ‘altered’. The first instead sounds more logical with a spot dollar that had exceeded $ 1,200 and still attractive interest rates. One of the great debates that were heard between outside operators was the level of the spot to start taking positions of ‘Carry’, “they said.
With this new level for the exchange rate, The expectation of the dollar grows faster to the band’s floorObjective proposed by the Government. “Economic signals continue to be evaluated daily, since it would already be close to the minimum of the ¨Micro Banda¨ ($ 1,100 / 1,200) within the flotation band,” said economist Gustavo Ber.
“Even so, to continue the positive ‘Headlines’ – currently focusing on the strategies to promote a re -delighting of the economy with private dollars and the friendly readings of the consultants in the high frequency inflation data – it could drill this most tactical floor of the operators and even approach the lower band of the $ 1,000,” he added.
