Dollar today: the devaluation of the yuan puts the pressure and the currency goes up in STEP days

The dollar opened up and spent $ 45 in the wholesale segment, after the Chinese yuan depreciated to its lowest level in a decade and led to the remaining badets and currencies of emerging markets.

The first transactions reported on the market were traded at $ 45.30 by unit on the wholesale market, with a rise of 65 cents since the closing on Friday.

In banks, the currency began to sell around $ 46. The National Bank offered $ 46.20 around 10:30 $ 46.40 half an hour later, with a rise of 80 cents since Friday. Private banks, on the other hand, sold at prices between $ 46.20 and $ 46.70.

The Chinese central bank validated this morning a devaluation of the yuan that had led the Chinese currency to its lowest value in more than ten years. International badysts have interpreted this decision as a response to the US decision to raise tariffs on Chinese products.

In this environment, global equities and emerging market currencies traded at extremely low levels. Wall Street futures dropped by 2% and the Brazilian real depreciated to nearly 4%.

The currency rose 3% last week, in the midst of the new US-China trade ladder, and the signal that the Federal Reserve will not accelerate the rate cut of the main economy of the planet.

This is despite the fact that the Central Bank intervened in the futures market and raised Leliq's interest rate to nearly 61%.

Since the end of April, the Central Bank can intervene in the foreign exchange market if, at that time, the parties believe that the volatility is excessive, as agreed with the IMF. However, this is still not done, beyond the daily sales of the Treasury account.

Operators did not report unusual interventions on Monday. "Today, the international context is very complicated, the devaluation of the yuan has pierced its historic course, as well as the trade war.It is normal that we accompany the movement," they badessed the authority. monetary.

Analysts have estimated that monetary authorities can now sell foreign currency on the spot market, which it has not done since the end of April, the IMF and the Central Bank have decided to Use this tool in situations of high volatility.

Country risk, which closed at 829 basis points on Friday, jumped to 866 units early Monday.

DEVELOPMENT NEWS UPDATE.-