Thanks to BCRA purchases and field regulations, reserves reached new historical record – 06/02/2019

Reservations from central bank (BCRA) reached this figure on Wednesday record of US $ 67 billion, As part of a slow reorganization process that began after the agreement reached last September with the International Monetary Fund (IMF) and purchases made by the entity this year, have contributed to a greater liquidation of land.

The new brand exceeded the previous high of 21 December, reaching US $ 66,343 million. On that day, the IMF disbursed some US $ 7.6 billion, at a time of high volatility, when the country risk rate exceeded 800 points.

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But the international change of scene started to favor the entry of currencies into emerging markets, or at least to avoid the losses they had suffered.

To this was added the own dollar income of the wheat harvest exportsand the purchases of dollars that the Central Bank itself has made to maintain the listing of the North American currency, which has allowed it to accumulate some 700 million US dollars since the beginning of the year.

The BCRA acquired an additional US $ 75 million on Wednesday, but the wholesale dollar closed at US $ 37.52, below the US $ 38 floor of the no-intervention zone.

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The idea of ​​the entity headed by Guido Sandleris, together with the Minister of Finance, Nicolás Dujovne, is to use these currencies to cancel the debt in the short term and achieve greater financial sustainability.

In addition, they know that from July on, the inflow of foreign currency into the country becomes less abundant when the soybean harvest and its derivatives are sold. For all this, in the central bank are cautious on the record.

With information from Telam