Only with the rise of Monday, the dollar has already gained in performance at fixed terms

The dollar rose on Monday after a nap of a month and a half and only with the change in the exchange rate on the first day of the week and reached surpbad the performance of those who bet for a fixed term at the beginning of the month.

Attractive interest rates, close to 50%, offered by the largest banks in the financial market due to 30-day deposits, have not been used to "establish a rate" in the context of the dollar. iron, as was the case in October.

For any saver who has been tempted to leave their weights earlier this month, banks offered an average annual rate of 47.95%. The companies increased the yields of their shorter deposits after the start of negotiations between Leliq and the Central Bank on the control of the monetary base and drove the peso rate to a ceiling of nearly 75%.

Until then in November, then, according to GMA Capital Investment Manager, Nery Persichini, the fixed term yielded 3.46%. In the same amount of time the exchange rate increased by 8.42%, which indicates that whoever started the month in dollars has benefited more from the fluctuation of the price of the last days.

"Since the beginning of November, the dollar has gone from $ 35.8 to $ 38.8 eaten in both directions the actual monthly rate of a fixed period at a nominal annual rate of 50%, "said Federico Furiase, economist at EcoGo.

For those who had started "early" with fixed deadlines, for example, in early October, when the exchange rate that lasted until last week began, the situation is not yet over against to the dollar, but the gap is narrowing more and more.

For example, if a person who entered a specified period in early October and renewed it in November, his gain in pesos increased by 6.6%. During this period, the value of the US currency fell by 4.7%. "The dollar has picked up strength in the last days of last week and today, but before that, it was losing the race against the peso rate, for example, in October, thee won the dollar by 19 points"Explained Persichini.

The "boom" of fixed terms, between the attractive interest rate and the sleeping dollar, was reflected in the figures released Monday by the Central Bank in its report on the foreign exchange market, in which it indicated that decreased the amount of the purchase in dollars.

"Gross purchases of resident notes totaled $ 2433 million, down about 400 million dollars as regards September. With the increase in the number of claimants to around 60,000, the average purchase per customer decreased 19% to $ 2,200. "

Very few investments in pesos were immune to maintaining their performance relative to the exchange rate. According to Furiase, "the bonds that adjust for Badlar come to compress the rate and this helps to balance the loss on the side of the rise of the dollar".