The dollar drops 39 cents to 39.75 dollars, while the market bids for Letes and Lecap

He is in agreement with the Single and Free Exchange Market (MULC), where the currency is down 15 cents to $ 38.80 after peaking at $ 39.11 at the start of the round.

In the informal market, for its part, blue goes back 50 cents to $ 38.50, according to the investigation on this support in the caves of downtown Buenos Aires. The "counted with liquidation" yesterday climbed 91 cents to $ 38.72.

It should be noted that The Ministry of Finance will present today an offer of Treasury bills denominated in pesos and dollars (maturities of 193 and 116 days respectively), as well as bonds of the national treasury in pesos (BOTE), fixed rate, expiring November 21st. 2020

The reception of tenders will start at 10 am and will end at 3 pm on Wednesday, in accordance with the calendar distributed by the Ministry of Finance.

Yesterday, by a combination of factors, including the disarmament of the carry trade and the taking of end-of-month positions, the dollar jumped 2.4% or $ 1.44 to $ 39.94. It has reached a new daily maximum since Guido Sandleris became a member of the Central Bank. In this way, the note has accumulated the fifth consecutive increase.

In the wholesale sector, the currency jumped 3.9% or $ 1.45 to $ 39.05. This is what happened during a round during which the BCRA staged an 8 day Liquidity Letters auction and re-validated it. a drop in the rate, the average reduction was 61.237% (61.405% Friday). The amount allocated was $ 134,579 million.

"A combination of factors, including the disarmament of the carry trade, important bond maturities with the outside world and the inexorable start of closing and offsets at the end of each month, seems to be allied to trigger a dollar correction with an unexpected magnitude ", badured the operator Gustavo Quintana, of PR Corredores de Cambio.

Despite the fluctuations, sources from the Central Bank explained that "in the money market, the effects of this volatility were not yet perceived, all the deadlines of the day LELIQ having been renewed without changing the rate of reduction" .

For the second consecutive month, the BCRA is on track to exceed the zero growth target for the money base, which is why "will continue to monitor the money market closely to absorb any excess liquidity that may exist" , said the same sources.

The greenback accompanied price appreciation in the region, particularly in Brazil, where the currency rose 2.5%. In Mexico, the dollar rose by 1.01% and in Chile by 0.2%.

The dollar in the world

The dollar rose on Tuesday after Federal Reserve Vice President Richard Clarida backed further interest rate hikes, although he stressed the importance of badessing economic data as the US central bank approaches a neutral stance.

The dollar index, which compares the value of the greenback to six of the major currencies, rose earlier during the session, after US President Donald Trump announced that he was planning to open the deal. raise tariffs on Chinese imports from a value of $ 200,000 million to 25% of the current 10%.

Other money markets

In the interbank money market, call money averaged 60%.

In the ROFEX US $ 1511 million were operated, over 77% of which was agreed between November and December, with final prices of $ 39.50 and $ 40.92 respectively; and rates of 60.09% and 49.94% of TNA. It is estimated that the BCRA was selling in this market. Futures contracts ended with average increases of $ 1.4 accompanying the rise in the spot.

Finally, the reserves of the BCRA dropped to 145 million US dollars Monday and 51.591 million US dollars.