How much did it close on Monday March 29

“Breaking with its usual strategy, the BCRA smoothed the slide in the wholesale exchange rate, today without compensating for the days without activity for the weekend“Corredores de Cambio pointed out from PR.

Ber pointed out that “the wholesale dollar continues to respect the “ crawling-peg ” imposed by the BCRA, beyond the fact that said slowdown is incubating a delay, especially when emerging markets have depreciated their currencies“.

From ABC Mercados de Cambio, they indicated that Monday’s hike suggests that “the BCRA’s tactic to converge with the Economy Ministry’s projections would begin a stage where the exchange rate peg will attempt to mitigate the rise in inflation and the expectations of economic agents “.

They added that “during the day the monetary entity was active in redirecting the rise and preventing higher prices from being validated. Even when it sold to accommodate the price of the currency, the final balance was favorable to about sixty million dollars “.

Private market sources estimated that the monetary authority’s purchases were in the order of US $ 60 million, or about. In this way, the Central Bank is accumulating a positive balance of almost $ 1,460 million so far this month (in the same month of 2020 it was $ 135 million).

While during the year it adds purchases for over US $ 2,260 million, while from December to date it accumulates acquisitions for US $ 2,760 million.

“The purchase of foreign currency is only one of the factors that affect the level of international reserves of the monetary authority, but the most important as a sign of accumulation of reserves to ensure the normal functioning of the economic activity, “agency sources said. .

For its part, The Solidarity Dollar, which includes the COUNTRY tax and a 35% advance on the profit account, advanced six cents on Monday to $ 161.06 as the retail ticket rose four cents to 97.61 $.

This week will be reduced in working days for the Easter holidays, which is why it is expected that the volume of operations will be concentrated in these first days of the same, which also has the seasoning of the closing of the month of March.

Gross reserves fell from around $ 78 million on Friday to $ 39,599 million.

Stock dollars

In a volatile day, the dollar “counted with cash” (CCL) rose only 0.2% (27 cents) to $ 146.28, bringing the spread with the official wholesaler to 59.2%.

For its part, the dollar “stock” closed practically stable at $ 138.48.. Thus, the spread with the wholesale exchange rate ended the round at 50.7%.

“The pax exchange rate also extends between financial dollars, amidst the administration of interventions and the larger private supply of foreign currency, even when the perception of depreciation by traders grows.“, Underlined the economist Gustavo Ber.

Simultaneously, $ 608 million was traded on the Rofex marketplace. All terms suffered reductions of more than 0.4% and the longest more than 0.8%. The end of the month ended up working with a rate of 17.87% and the month of April at 32.02%, according to ABC Mercados de Cambios.

Relative to Friday, the month-end rate fell about eight percentage points as the devaluation rate fell on the spot, considering that on Friday it closed at 25.44%.

On this wheel, highs were initially recorded at $ 91.98, 14 cents above the previous end. Specific Monetary Authority sales in the first installment of the session provided the initial purchase orders, while correcting the price with declines that led it to sequentially hit a low of $ 91.91.

The real income accompanied the monetary authority with an attractive amount of settlements that allowed the BCRA to recoup sales from the start, keeping the price around the date low until the end of the day.

Last week, implied exchange rates fell to around 4% due to a sharp decline in dollar bonds traded in pesos and a more moderate decline in bonds denominated in hard currencies.

Likewise, analyst Salvador Di Stéfano said the drop is linked to a larger supply from those who sell currencies to meet the payment of the tax on large fortunes (Solidarity and Extraordinary Contribution).

It should be remembered that AFIP has established that people with said obligation can choose between March 23 and April 28 inclusive, to make an advance of 20% of the consolidated debt and enter the resulting balance in five consecutive monthly payments. .

Dollar in the world

The dollar appreciated around the world in a volatile session in which the euro traded below $ 1.18 and the currencies associated with commodities fell, due to demand for currencies considered to be a safe haven in the face of concerns about the potential repercussions of a hedge fund default.

The dollar index, which measures the performance of the greenback against a basket of six coins, It peaked at 92,919, its highest level since November of last year. He later traded with a slight increase of 92,825.

US stocks were trading at a loss after Global banks have said they face potential losses due to the insolvency of a hedge fund, identified as Archegos Capital, which analysts say was associated with major US media and Chinese technology companies.

“The focus today is on the performance of US equities, in particular given the hedge fund default that emerged last week”, said Simon Harvey, senior currency analyst at Monex Europe in London.

The euro fell 0.1% to $ 1.1778, close to a four-and-a-half-month low that hit $ 1.1762 last week. On a monthly basis, lost 2.3%, its biggest drop since July 2019, due to the possibility that tougher coronavirus measures in France and Germany will affect the bloc’s growth prospects.

“The US economy is much stronger and far ahead in the vaccination game compared to Europe and Japan, and this ultimately translates into the normalization of Fed policy years before the ECB or the BoJ. “said Marios Hadjikyriacos, strategist at brokerage XM. The dollar rose 0.1% against the Japanese currency to 109.74 yen.

Caution in the face of the virus also helped the dollar rise against its Australian and New Zealand counterparts and the British pound, while the resumption of traffic through the Suez Canal lowered oil prices by around $ 1. , 5% and weighed down the currencies associated with crude oil.

Blue dollar

the The blue dollar closed stable on Monday at $ 142, its lowest value since the start of March, after falling $ 2 last week, in caves in the city of Buenos Aires, according to an Ambito survey.

Yes indeed, the spread with the official wholesale dollar ended in the wheel at 54.5%.

The parallel marked its first weekly increase of the year last Friday, advancing $ 2, after registering 10 consecutive weeks of falls. Last week it resumed a downtrend.

Blue fell as low as $ 140 on March 11, its lowest value since mid-September.

The currency had threatened to rebound at the end of 2020, but since the start of the new year it has not shown any signs of taking off. So far in 2021, it has seen a decrease of $ 24.