The dollar rises in the banks of the city, under the pressure of the "trade war" between the United States and China

Nail very unfavorable financial day abroad, for the announcement of commercial retaliation that the Chinese government will execute on US imports, leavesschools also on the Argentine market.

The general depreciation of emerging currencies is evident Brazil, where the dollar rises 1.1% or four cents, to 3.99 reais.

With the same trend, the dollar rises 70 cents or 1.5% in the banks of the city of Buenos Aires, $ 46.50 for sale in the branches of Banco Nación.

In the market wholesaler agrees to 45.55 pesos. In 2019, the North American currency rose 20.8%.

China plans to impose tariffs on US products evaluated in USD 60,000 million, in response to government measures Donald Trump, in full commercial conflict between the two countries. The United States intensified Friday the tariff war with China by increasing taxes on Chinese products valued at $ 200,000 million.

The Asian giant said in a statement that the new tariffs on American products, which will come into effect on June 1, will from 5 to 25 percent and will be applied to a total of 5,140 products.

In the domestic plane, theThe Argentinian economy also has difficulties, with GDP declining and inflation remaining above 50% a year, just over five months before the presidential elections, whose candidates are still not defined.

"The postman political riskor, added to the turbulence that emerging markets have suffered in the past month, have caused the savers decide to leave at fixed term and turn to the dollar despite the sharp rise in rate which is around 74%"he explained Augusto Quiñones, badyst at First Capital Group.

Nery Persichini, Investment Manager of GMA Capital, indicated that "the Argentines, we are specialists in the protection of our heritage. Marked by Rodrigazo, hyperinflation, the crisis of convertibility, default, the exchange rate and other scourges of economic history, the destination of domestic savings It was mutating with a dual purpose: preserve value and secure property rights"

On the other hand, Ecolatin pointed out that in the past two weeks, "the announcement that the The central bank could intervene in the spot market before the dollar exceeds the ceiling of the no-intervention zone – 51,448 pesos – now called the reference zone, he has dispelled the pressure of exchange ".

"A weaker depreciation of the peso would help the recovery of the dollar not to collapse and stabilize the debt-to-GDP ratio," said Ecolatina.

Doubts come from the actual level of badets with which the monetary authority must intervene on the spot. Analysts believe that "net" reserves would barely exceed 20 billion USD, although this amount is extended to $ 40,000 million if you add 130 billion yuan, product of "exchange" of currencies with the People's Bank of China, which could turn around $ 18.920 million today.

Last month, the dollar appreciated 2.7% against the yuan, which reached its lowest level in nine months.

"The BCRA is sitting on USD 20,000 million plus USD 7,000 million of Treasury deposited in the central. And even if necessary, the BCRA could activate part of the REPO (short-term credit operation) with Banco Popular's China that in December 2018, it had been extended for a total amount of more than 17 000 million USD today. Consequently, firepower there, and would add more than $ 44,300 million", according to a calculation of Personal Portfolio Investments.

However, for Economy and Regions, "the policy of reservations are very difficult to bear until the elections; that is, it is very likely that it will have to be abandoned before the elections, which will have a negative impact on the dollar and inflation. "

Due to the cancellation of the debt, in the last month, the international reserves of the BCRA dropped by more than 9,000 million USD, 68 111 million USD, US $ 77 481 million since last April 9, when the last disbursement of Monetary Fund International (IMF).