The dollar today: trade is limited by the G20, the currency remains above 39 dollars

With a restricted transaction, the dollar will seek this Thursday to record its third consecutive loss, after climbing $ 2.50 between Friday and Monday and returned to contributions over 39 pesos at the counters of banks.

The foreign exchange market will operate this Thursday until 1 pm. From then on, the branches will not sell foreign currency to the public, although the dollar can be exchanged via home banking.

In the first minutes of negotiations, Banco Nación's official exchange rate was sold at $ 39.20, down 20 cents from Wednesday. The wholesale dollar remained stable at around $ 38.44, about ten cents lower than the last closing price. On Wednesday, the currency closed at an average price of 39.53 dollars in banks.

The central bank noted that investors viewed last week's monetary expansion as easing the tough policy of controlling currency emissions and absorbing the pesos again as of Monday, with Leliq's issuance exceeding maturities of every dollar. day.

On Wednesday, at a meeting with investors before the G20, BCRA President Guido Sandleris reinforced the message: "This central bank will be very cautious in the coming months. We are fully aware of the risks our economy is facing. We will increase the monetary base if conditions permit. In particular, December is a month of strong seasonality in the demand for money. As a result, our monetary base goal is 6% higher. However, in the same way that we exceeded our monetary base objective the previous months, we will also do so in December if we believe that the increase in demand for money is not what we expected", he said at a conference of the Council of the Americas, which also took part the Minister of Finance, Nicolás Dujovne.

Sandleris also said that the BCRA's Monetary Policy Committee would determine in December the rate of update of the data exchange area without intervention for the first quarter of 2019. "This update rate should be less than the current one, "he said. Since October, the Central Bank has organized a floating dollar between the floor and rooftop bands, which are updated daily at a rate of 3% per month.