The central bank reacted to Monday's jump: it was longing for more pesos and the dollar was falling

After four consecutive rises in which the dollar added nearly $ 3 to its price, the US dollar closed yesterday on a 40-cent decline thanks to the resurgence of supply that coincided with increased zeal for the dollar. Central bank. (BCRA) at the time of removing the weight of the street: she aspired nearly 46 000 million dollars with Leliq, the largest figure of the last 13 wheels. In addition, the world has contributed to the rise, especially the Brazilian real, with a good portion of the currencies of the region. The ticket was $ 39.58 for sale.

The big dollar – which started with a hike to $ 39.11 – closed the day with a 50 cent drop to close at $ 38.55. The day before, the currency had gained 1.45 USD, which was added in advance of more than 1 USD last Friday.

In the retail trade, the banknote declined a little less. It closed at $ 39.58, 39 cents lower than Monday, based on the BCRA's average retail market price.

The volume traded in the counted segment was lower than yesterday when it added 606 million US dollars, while it was 310.2 billion US dollars in the MAE futures contracts US.

"With an erratic and mixed route, the currency partially corrected the sharp rise, thanks to lower buying pressure and slightly improved supply, which caused the current decline, pushing the rate of is changing big to get away from the $ 39, "said Gustavo Quintana of PR Changes.

He felt that the decline could also be attributed to the offers of today and "there was no strong demand from importers yesterday". In a context of prudence and hedging purchases, country risk reached 703 basis points.

The monetary authority also announced that the opening hours would be shortened between 10 am and 1 pm and that the G20 activities would have no activity on Friday.

He lit the void

A fact to be taken into account was that the drop that day after day the rate, after 15 consecutive reduction wheels, slowed down.

BCRA sold $ 140,075 million to the 8-day liquidity letters (Leliq) with an average cut rate of 61.248%, compared to 61.237% yesterday, while the maximum rate was 61.691%, compared to the previous rate of 61.6%. 61.749.

This slowed down the rate of decline.

The Leliq auction yesterday removed $ 45,993 million from circulation, the highest figure since November 5.

Although the BCRA overcomes the goal of expanding to zero the monetary base, since the launch of Lebac's call for bids last week – when $ 122 billion was injected into the system – Leliq's daily operations were rather large. In addition, two letters offered by the Treasury to capture the pesos out of Lebac raised little.

Dujovne does not worry

Finance Minister Nicolas Dujovne said yesterday that the government was "very calm" with regard to the "very smooth movement" recorded by the dollar in recent days and said that there is no had no reason to worry.

Dujovne said that the sharp rise in the currency in recent days "is due to the supply and demand of the market, so the government is it very calm with the exchange rate, evolving very easily in the zone of non-intervention "BCRA patches.

"We do not see any reason for concern, we are calm in the no-intervention zone," said the economic portfolio manager.

In this sense, the Treasury will offer as of today and until tomorrow the 15 US Treasury bills maturing from June 14, 2019 (Letes) to 193 days with a maximum price of $ 975.50 for every dollar. s 1000, which corresponds to a nominal annual rate of 4.75%.

Today, Hacienda will issue Lecap again, extend the Treasury 2020 bonus and will also place a Lete in dollars at a little over six months.