The dollar fell 72 cents to $ 38.82 due to higher foreign exchange earnings (it rose 5% during the month)

Although it remained stable for several weeks, it rose 5% in November following four sharp increases on wheels in which investors are betting on disarming positions.

He agreed with the Single and Free Exchange Market (MULC), where the currency fell 74 cents to $ 37.72, during a round in which the Central Bank awarded a new tender for Leliq in the amount of 189 162 million dollars, with an average rate of 60.75%, lower than that recorded on Wednesday (61 , 20%).

"The price has dropped because of the constant influx of foreign currency, from banks as well as exporters and investors, which has been picked up by demand, with operators favoring the placement of pesos according to the diversity badets still high ", badyzed by ABC Mercado de Cambios.

"In an unusual day for the reduced calendar, the North American currency could not recover from the previous falls and repeated a scenario of frank weakness.The prices were adjusted to a scenario in which the supply of Currency has clearly prevailed in the development of activities generating the third consecutive decline, "said operator Gustavo Quintana, PR Corredores of Cambio.

The maximums of the date were recorded at $ 38.35 with the first agreed transaction, eleven cents less than the previous closing. However, the supply of dollars was installed early and strongly during most of the abbreviated wheel run and pushed back prices that easily broke through the floor at $ 38, reaching a low of $ 37.72 on the month. closing of operations. The total amount operated was $ 305 million.

"The price has fallen due to the constant influx of foreign currencies, from banks, exporters and investors, which have been pbaded on by demand, with operators favoring the placement of pesos based on diversity. badets and conditions, rates still high "(ABC Market of Changes)

It should be noted that public and private banks all over Argentina will not open their doors to the public on Friday for a "holiday" determined by the authorities as part of the summit.

Other markets

In the interbank money market, call money operated on average at 52%.

At ROFEX, US $ 822 million was operated, of which more than 65% was agreed between November and December, with final prices of $ 37.97 and $ 39.26 respectively; and rates of 60.48% and 46.57% of TNA. Futures contracts resulted in losses of over $ 1 accompanying the decline in the spot, which dropped $ 0.74.

In the informal market, for its part, blue closed stable at 38 dollars, according to the investigation on this support in the caves of downtown Buenos Aires. The "cash settlement" fell 89 cents to $ 37.69.

International reserves fell Thursday from 268 million US dollars to US $ 51,182 million.

Dollar in the month

Although the US currency remained virtually stable for much of the second month of management of Gudio Sandleris at the head of the BCRA, the price ended in November with a 5% increase. The increase was essentially concentrated on four days that determined the final result: Tuesday, November 13, when the dollar jumped 55 cents in a round in which the Central has validated the seventh reduction in the Leliq rate.

The second shot was on Friday, November 23 when the bill jumped by $ 1.07, driven by a significant demand for liquidity protection prevailing on the market (after Lebac's bid, in which the BCRA overturned on the spot about 122 billion dollars).

The third took place last Monday in a wheel in which US currency increased $ 1.44. The rise in the price is due to various factors such as the disarmament of the carry trade, important maturities of bonds abroad, the taking of positions by the end of the month and the Appreciation of the currency in the region.

And the last push that justified the monthly increase took place last Tuesday because of a combination of factors, among which we can mention the unwinding of the carry operation and the taking of positions at the end of the month. It was a day in which the dollar jumped 3.7% ($ 1.44) to $ 39.94 and reached a new high since Sandleris is at the head of the Central Bank.