The dollar saw the largest daily increase in the Sandleris era: it jumped 3.7% and touched $ 40

By a combination of factors, one of which is the disarmament of the carry trade and the taking of positions at the end of the month, andl dollar it jumped 3.7% or $ 1.44 to $ 39.94 and reached a new daily record since Guido Sandleris became a member of the Central Bank. In this way, the note has accumulated the fifth consecutive rise of banks and agencies of the city of Buenos Aires, according to the average of domain.com.

C & # 39; was in agreement with the Single and Free Exchange Market (MULC), where the currency climbed 3.9% or 1.45 USD $ 39.05. This is what happened during a round during which the BCRA organized an auction of 8 day liquidity letters and returned to validate a lower rate whose average reduction was 61.237% (against 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 fluctuations, sources at the Central Bank explained that "In the money market, the effects of this volatility were not yet visible, all the LELIQ maturities having been renewed without any change in the rate of reduction".

For the second month in a row, the BCRA is poised to exceed the zero growth target of the money base, which is why "will continue to closely monitor the money market 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 has operated with a clear buying trend and in a scenario of insufficient supply of foreign currencies. Prices have risen since the beginning of the day and have risen with a surge that exceeded the correction last Friday, itself of significant magnitude. On average, it has closed below $ 40, but many banks have proposed late in the day above this value, as in the case of Galicia, Francés, HSCB and Itaú.

For the operator Christian Buteler, the rise of the green ticket at the domestic level answers three main reasons. In the first place, the order placed by the Central Bank at the beginning of the month of reserve for the funds that the financial entities must maintain immobilized, in order to discourage the entry of speculative capital in the short term. In second place, "the peso surplus for the disarmament of Lebac last week" and finally, "the decline in Leliq rate" that the monetary authority applies.

The minimums were recorded in the $ 37.25 during the first operations of the session and were moved almost immediately by the emergence of purchase orders that led to a sharp rise in price. The upward mobility of the exchange rate was maintained until late in the day, during which the record was reached with an operating rate of $ 39.15. The total operated was $ 724 million, 32.6% more than Friday.

• other money markets

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

On ROFEX, 1511 million USD were traded, of which more than 77% were agreed between November and December, with respective final prices of 39.50 USD and 40.92 USD; 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.

In the informal market, meanwhile, the blue is mounted $ 1.50 to $ 39, according to the investigation on this support in the caves of downtown Buenos Aires. The "cash settlement" increased by 91 cents to $ 38.72.

Finally, The reserves of the Central Bank decreased by 145 million dollars Monday and amounted to 51 591 million dollars.