Dollar today: the currency is strengthening in the world and exceeds 44 dollars in banks

The dollar strengthened Wednesday around the world and currencies of emerging countries, such as Brazil, Mexico and Russia, lost ground. In this context, the government hopes that the supply of foreign exchange for the agricultural sector will begin to recover and relieve the local market.

In early negotiations, the wholesale exchange rate was close to 70 cents and reached the lowest level. $ 43.30 for sale. In the National Bank, arrive at $ 44.30. In private banks, the currency jumped to levels close to $ 44.50.

On Tuesday, the big dollar rose 56 cents and closed at $ 42.64, while the official Banco Nación exchange rate reached $ 43.60. These are record values.

Global markets have stepped up the cautiousness of the past few weeks in dealing with the risks of global growth. US Treasury bonds offer negative returns, which has been predictive of a global recession over the last 50 years, according to Reuters. In this sense, the bad industrial data from Germany and France last week added worrying performances of the Chinese manufacturing sector.

In this context, the Brazilian real, the Mexican dollar and other emerging currencies began to weaken against the dollar on Wednesday.

To this bad global context are added local uncertainties. The arrival of trucks in the ports of Rosario to take corn and soybean crops abroad is a record, but the monetary settlement registered so far is lower than a year ago. The big celeraleras estimate that they will dump $ 6.9 billion into the market over the next three months. These are currencies that the government expects as water in the desert to calm tensions on trade.

At the same time, the IMF confirmed Tuesday that the board of directors will validate the delivery of the next tranche of the loan support to Argentina, amounting to $ 10,800 million. Sources at the Ministry of Finance confirmed to TN.com.ar that the Treasury would begin daily auctions of 60 million US dollars in more than two weeks on 15 April.

The flotation system between the bands prevents the Central Bank from selling currencies to calm demand while the dollar is trading in the no-intervention zone. I could not go out to contain the climb unless it happenss $ 50.84 in the wholesale segment. In this context, the BCRA can only offer future dollar contracts and a higher interest rate to absorb the pesos through Leliq. Last month, the benchmark rate increased by nearly 1,700 basis points, but the currency increased by 9.7%.