The dollar fell to $ 57.39 with BCRA sales of $ 112 million and after taking over Lacunza

In the Nation Bank the US currency has closed stable to $ 57 while in the electronic channel, it was hit at $ 56.95.

At the same time, the fall in the retail price has been adapted to the single foreign exchange market (MULC), where the currency fell 25 cents to $ 54.75.

Diego Martínez Burzaco, director of MB Inversiones, said that "the market reaction was much more positive than we would have expected after the collapse of Wall Street yesterday".

In this direction, He highlighted Lacunza's determination to ensure a balanced budget, "giving the IMF a boost to ensure the disbursement of $ 5.4 billion". and positively reflected on the early message given by BCRA manager Guido Sandleris on "reducing exchange rate volatility".

It should be noted that the replacement of Nicolás Dujovne declared before the opening of the market that it would seek to "guarantee 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 badured that "A higher exchange rate is not necessary" and "this 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.

In turn, the president of the central bank, A few minutes later, 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 have no "fundamentals" to raise .

"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.

On a wheel at low volume -544 million dollars Demand for hedging was more intense in the first part of the day, pushing prices up to $ 55.80, 80 cents higher than last week's close.

However, the official strategy insisted on its interventions in the most immediate conditions on the futures markets, by adding direct auctions from the Central Bank which added to the usual Treasury, generating a revenue stream gradually easing the pressure on the market. Quote with lower values ​​that stop when you hit lows at $ 54.50 at the beginning of the last part of the wheel.

"The strategy put in place by the Central Bank seems to have had an effect on the market, managing to ease the pressure on dollar prices, which in a low-turnover wheel – the second lowest of the current month – broke through. floor with some ease. before the $ 55, "said Gustavo Quintana, PR Exchange Brokers operator.

We must not lose sight of the fact that, to broaden the offer, the BCRA has organized two auctions for a total of 60 million US dollars on behalf of the Ministry of Finance. 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.

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%.

Blue Dollar, futures and reserves of the BCRA

In the informal market, the blue dollar fell $ 1 $ 58, according to the investigation on this support in the caves of the downtown microcentre. In turn, the "counted on liqui" subtracted 1.5% from $ 55.99.

In the money market between banks, the currency of call operated at about 68%.

ROFEX operated 724 million US dollars; 23% less than Friday. The shortest terms have concentrated 70% of the total exploited. In addition, final prices for the months of August and September were $ 56.70 and $ 62.70; with rates of 102.56% and 124.63%. The terms showed a low average of 1%.

Finally, the reserves of the central bank recorded their sixteenth consecutive fall, sinking $ 3,016 million to drill the $ 60,000 million, after the Ministry of Finance canceled a loan – called REPO – and after the auctions of foreign exchange made by the BCRA on the foreign exchange market.

The international holdings of the monetary authority ended in $ 59,390 million, which represents the lowest level so far this year.