Dollar rises 1% to 46.04 dollars, affected by global tension

He is in agreement with the Single and Free Exchange Market (MULC), where the currency rises from 31 cents to $ 44.75 in the midst of global tensions after the president of the United States, Donald Trump, will strongly increase the pressure on China reach a trade agreement by announcing that it will increase tariffs on the goods of the Asian giant.

"External tensions have added to the local malaise, which has determined a rising start for the dollar," said a money changer.

In the informal market, the blueworks without changing $ 45.75 according to the investigation of this support in the caves of downtown Buenos Aires. At the same time, Friday's "contad con liqui" lost 0.7% to $ 44.66.

The rise in the price of the dollar on the local market is comparable to that of the region. So much so that in Brazil, the dollar rises by 0.7%, in Chile by 0.6% and in Mexico by 0.6%.

As usual, the BCRA organized the first 7-day liquidity letters auction for an award of $ 130,989 million, at an average cut rate of 73.575%, with a maximum allocation of 73, 78%. minimum of 72.49%.

Last Friday, the Central Bank validated a 30-basis-point cut in Leliq rates, which stood at an average of 73.766 percent for a total allocation of $ 191.016 million, while the average weekly balance increased by 189 basis points.

The monetary authority also proceeded today, on behalf of the Ministry of Finance, to an auction of $ 30 million at an average price of $ 44.8542, with a minimum price of $ 44.83.

It should be remembered that on Friday, the greenback fell 40 cents compared to the rest of the region and despite the validation by the Central Bank of a reduction in rates.

Thus, the note accumulated last week a decline of 2.9% ($ 1.35), compared to $ 46.90 the previous Friday.

The currency has evolved in a comparable way to the wholesale market, where it fell 36 cents to 44.44 USD, in a phase of serene development, losing 1.53 USD during the week.

Economist Gustavo Ber pointed out that "the dollar is going through a calmer wheel after the greater flexibility of the BCRA and the respite of emerging currencies".

He added that "anyway, the operators react with caution, because they hope to be able to evaluate the agency's" firepower "in a higher dollarization scenario when it is achieve direct sales – with a counterpart of lower net reserves – until now, it was dusting off the "arsenal" of Leliq's high rate of 74%, sales of state-owned banks and interventions on contracts futures. "

Other markets

In the interbank money market, call funds operated close to 71%.

On the Rofex, 1,067 million US dollars were operated, 44% more than Thursday. Short films account for just over 55% of the total exploited. The final prices for these months of May and June finally worked at $ 46.50 and $ 48.63 (TNA at 60.43% and 59.33%). October, with 46 million US dollars operated, ended at $ 58.00 (TNA 61.53%).

Finally, the gross international reserves of the BCRA fell Friday by 237 million US dollars to establish 71 291 million US dollars.