The dollar drops to $ 57.64 after the intervention of the central bank, which sold $ 112 million

The retail bill's fall is in tune with the single and foreign exchange market (MULC), where the currency drops 25 cents to $ 54.75.

"One-time incursions of official banks in the sector where the main players operate make it possible to contain the dollar's wholesale price at $ 55.55," said Gustavo Quintana, PR operator of Exchange Brokers.

In the informal market, the blue dollar runs stable at $ 59, according to the investigation on this support in the caves of the downtown microcentre. In turn, the "counted on liqui" He subtracted between 1.28 and 56.87 dollars on Friday.

To expand the offer, the BCRA has organized, on behalf of the Ministry of Finance, two auctions worth a total of 60 million US dollars. In the first case, the average price awarded was US $ 55,545, the minimum price awarded being US $ 55.50. In the second case, the average price was $ 54,637 and the minimum was $ 54.60.

It should be noted that the newly appointed treasury portfolio holder badumed this morning to replace the waiver Nicolás Dujovne, who left office last Saturday in the midst of the economic crisis. In this context, Mr. Lacunza indicated that he would seek to "ensure the stability of the exchange rate".

In his opening remarks, he left investors with a key definition, stating that the central bank will aim to maintain the exchange rate in a virtual band of $ 57 to $ 62.

He also said that "there is no need to increase the exchange rate" and that "volatility affects the ordinary citizen". "We have enough reason to believe that after the escalation, the exchange rate exceeds the break-even point," he added.

Meanwhile, the president of the central bank, Guido Sandleris said that the Argentine financial system "was very solid and liquid" and stressed that the entity would intervene in case the exchange rate would not have "fundamentals" on the rise.

"The exchange rate is at competitive levels and allows us to be more confident when dealing in the foreign exchange market. The Central Bank has the tools to mitigate the volatility of the variables of our economy, "said the economist at a press conference shortly after the oath and the first speech of Hernán Lacunza.

The dollar in the world

Most currencies in the region have recovered Tuesday, waiting for the week of minutes of the US Federal Reserve and the start of a meeting of central bankers at Jackson Hole in which they will look for clues about monetary policy.

"The minutes of the Fed and central bankers gathered at Jackson Hole may not convince the market that the Fed will continue to lower rates," said Alfonso Esparza, Senior Analyst at OANDA.

In this context, the Mexican peso 0.6% was appreciated; while the true Brazilian It rose about 0.9%.

he Chilean Peso, was quoted up about 0.5%, driven by an increase in the for-profit dollar offer after the exchange rate rally the previous day.

On the other hand, the Colombian peso is appreciated by 0.7%, after the closure of the market on holiday Monday, in a cautious place and in the expectation of possible monetary stimulus measures in order to curb the global economic slowdown.

Peruvian currency rose 0.24% against the dollar. while the referent of the stock market fell by 0.12% before the loss of some mining papers.

The dollar index, which compares the greenback to six currencies in circulation, remained stable at 98,375, after reaching a peak of two and a half weeks at 98.40. At the beginning of the month, it reached its highest level of the year, with 98,932.

Leliq rate almost stable

The average total rate of the day, equivalent to the rate of monetary policy, was 74.964% and the total amount allocated was $ 144.926 million.

he central bank held the first auction Letters of Liquidity (Leliq) 7-day term for an allotted amount of $ 80.161 million at an average cutoff rate that was at 74.963%the minimum of 74.854% and the maximum of 75%.

The monetary authority proceeded with the second auction of Leliq for $ 64,765 million, with an average spread rate of 74,966%, with a minimum auction rate of 74,800% and a maximum 75%.

BCRA Reserves

Finally, the reserves of the Central Bank noted their fifteenth consecutive fallwhen sinks $ 1,281 million to $ 62,406 million. In the five days following PASO, the bleeds reached $ 3.904 million.