The dollar is sold at 28.50 pesos in Posadas

It is the average value of the currency in the exchange offices of the missionary capital. Yesterday, in Buenos Aires, due to calls for tenders and greater supply from the agricultural sector, they put pressure on the dollar: it dropped 30 cents and closed below $ 28.

With the help of Letes' bids and a dual currency bond, with a more robust agricultural supply, the dollar fell by 30 cents on Thursday and broke through the $ 28 level in banks and credit reporting agencies. Portena city, according to the average of Ambito Financiero

The note closed at $ 27.91, resuming the downward trend after posting a small rebound of 16 cents on Wednesday.

Thus, it reached its lowest value in more than two weeks and accumulated a 5.9% (or $ 1.75) drop from its record of $ 29.66 recorded on June 29th.

Meanwhile, in the single and free market (MULC), the dollar fell 16 cents to $ 27.23, due to the offer that investors have filed to deposit in Letes subscriptions and the double bond (the government placed $ 2.152 between the two instruments).

In addition, exporters returned to increase its liquidation volume of the soybean crop, exceeding the demand of banks and companies, explained in the market. The offer has also added an additional $ 100 million that the BCRA has put up for auction under the Stand By agreement with the International Monetary Fund. The average price cut was $ 27.0765, the minimum price being $ 27.0510.

"The US currency could not maintain the level reached in the previous session and further declined due to the supply surge in the course of a day with a larger volume traded: 608.6 million dollars (+ 13%), "said badyst Gustavo Quintana

When there is only one day at the end of the week, the wholesale exchange rate accumulates a decline sixty-seven cents compared to the values ​​recorded at the end of last Friday, remaining well below $ 28 and below June 27th.

"The financial cost has come from rising interest rates are encouraging the disarming of positions and the inflow of foreign funds, a phenomenon that depresses the price of the dollar, a situation that repeats the scenario of In the past and does not provide long-term exchange rate stability, "he added. a currency changer

The bullish vertigo that had been showing the dollar in the previous weeks has taken a break in recent days, especially after the monetary compression that the Central Bank has ordered, through the increase in reserves, and validated a jump in the rates in pesos.

"It was the urgent and important thing that the market needed.The next step would be to lower rates a little bit." In Letes' investment on Wednesday, there was a drop that was expected from Treasury bill placement, and the double bonus was placed a better number than the expected market, which shows two very different types of investors, "Matías said. Roig, director of the personal portfolio

Faced with soaring interest rates, the market recommends allocating a portion of the capital to invest in these BCRA instruments. "With a stable exchange rate scenario, we recommend that customers take Lebac at a percentage with which they feel comfortable, which can be 10% or 20%." This, in particular, for those who need to have pesos available for working capital, and who need cash to pay taxes or expenses in general.In this sense, there is no instrument that can compete today. Lebac rate, "suggests Roig.

In the money market between banks, "money money" has again risen to extremely high levels: 63%. Meanwhile, LEBAC rates in the secondary market maintained their performance, with 6 days at 60.80%, 34 days at 51.7% and 69 days at 49.75%.

The ROFEX futures market, meanwhile, was operated for $ 455 million, of which 60% was agreed between July and August with final prices at $ 27.95 and $ 29.05, respectively, and rates of 50, 80% and 48.79%. Futures contracts ended with average losses of more than twenty cents, accompanying the fall of the spot.

In the informal square, the blue gave 10 cents to $ 28.40, according to the investigation of this medium in the caves of downtown Buenos Aires. The "cash settlement" lost 15 cents to $ 27.28

Finally, the reserves of the Central Bank dropped $ 139 million on Wednesday and ended at $ 60,545 million.