Dollar today: after black Monday, the currency closed at $ 58.30 and there was a sharp price disparity

The dollar once again jumped ahead on Tuesday and closed at $ 58 in the Nation Bank. Although this is a less pronounced increase than on Monday, the wholesale price has been adjusted by 5% and completed at $ 55.80. Instability caused a strong price disparity between banks, bureaux de change and brokerage companies selling currencies.

As soon as the exchange wheel has started, the retail exchange rate climbed to $ 61 in the Nation, one of the generally cheapest points of sale. The price of the US currency slipped hours later when the Central Bank began its intervention through the sale of reserves. Tuesday, the monetary authority put $ 150 million on the table to accumulate 250 million US dollars sold in two days.

Another part of the cash offer was made by the Treasury. As you do every day paid $ 60 million in two investments of 30 million each, in accordance with the agreement concluded last year with the International Monetary Fund. The limit on reserves set by BCRA is US $ 250 million per day.

On the other hand, the body that leads Guido Sandleris allowed a further rate increase reference of the economy, that of Leliq. After Tuesday's two calls for tender, the performance of these monetary policy instruments remained at the same level. 74.85%so it's still at record levels.

In this context, the Treasury had to suspend part of the offer of Letes in dollars that it had planned for this Tuesday. The Treasury decided to go back with the placement of Letes which had the due date on March 13, 2020. For this reason, it will only proceed to the sale of the shorter term of this instrument, which will end on November 29th.

After the collapse on Monday, Argentine equities and bonds experienced a rapid rebound, a common symptom that comes after a sharp fall. The merval up 6% and the roles of Argentine companies listed on Wall Street advanced up to 11%far from landslides close to 60% of the day before.

The country risk reacted on Tuesday with an escalation to 1700 points, which shows how much the financing of Argentine debt issuers (from the state to the companies) was even more expensive in the middle of the tension caused by the large defeat of the country. gone to power the marches.

The first reaction of the week was the jump of 11 pesos that the exchange rate gave Monday. This sharp rise occurred while the amounts on the foreign exchange market were low, close to the 500 million dollars.

The sharp devaluation of the peso will have effects on the prices of different goods and on the indices of inflation and economic activity. Mbad consumption companies send new price lists to supermarkets with 15% increases. Some items, such as automakers, have suspended bills pending a dollar reference price.