The rate is close to 70%, but the dollar rises and the IMF could delay saving Macri

The dollar held Thursday the upward trend driven by demand in recent days and the weakness that the Brazilian real has shown during the day.

In the wholesale market, the price has risen by 20 cents and the wheel has ended at $ 41.05. At the point of sale, the currency closed at $ 42,016, according to the BCRA average.

"In a very volatile day of travel, the North American currency has risen after an initial fall, probably contaminated by the movement of the real in Brazil.An interesting initial decline has been reversed by a change of trend based mainly on regional contagion", a point Gustavo Quintana, from PR.

The rise occurred despite a further rise in the interest rate which, in its total average – after 2 auctions of Leliqs – ended the race at 65.758%.

Another factor likely to put pressure on the exchange rate is the alleged delay in the next installment of the International Monetary Fund (IMF) under the agreement concluded with the government of Mauricio Macri.

As confirmed by the same fund this Thursday, via his spokesperson Gerry Rice, the board of the multilateral body will meet "in the next weeks" set the disbursement authority of US $ 10.870 million.

It would add to the conditions of the Treasury Palace, which has the money – partly, as they claim – to put it on the market and get a stable exchange rate.

The plan that the minister presented Nicolás Dujovne involves selling about 60 million dollars a day from April in pesos, which will therefore affect the price of the dollar.

This delay "a few weeks" This would change the official pattern of starting with these sales in April, as Dujovne announced. A delay in government-provided market supply in the midst of an uncertain scenario for the election year could allow a dollar surge from expected levels at Casa Rosada for this period.

Dujovne announced that the IMF's dollars are not meant to balance the foreign exchange market, but to exchange its pesos. The Fund made this statement on Thursday.

"The funds available in the program are intended to finance the budget and have been requested by the authorities, which is the essence of what the IMF is doing and we hope to cover the financial needs of the government in the coming months", Rice said at a press conference in Washington. "It's the main goal of the program"added the IMF official.