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05-07-2018
In the wholesale segment, the currency posted volatility but closed at 2 cents lower than yesterday, at $ 28.05, in a key market day. After vacation in the United States Wednesday, the volume operated is back to normal, up 133% to $ 757 million
In a key day for the markets, for the offer of treasury bills in dollars at the end of July 2019, and after the holidays in the United States on Wednesday that reduced business, this Thursday The US currency remained stable .
On this trading day the volume returned to normalize after the lack of reference of the precedent, and increased by 133% until u7575 million
Thus, the dollar wholesale showed volatility because it was traded at a value that peaked at $ 28.26, but ended the day in recession, two cents less than on Wednesday, at $ 28.05 .
In addition to the offer Letes, it also helped to contain the strong demand for foreign currency auction dollar daily for a total amount of 100 million US dollars, made by the Central Bank,
"On a wheel with a strong dispersion of prices the wholesale exchange rate closed with a minimal loss compared to the previous day", summed up the operator Gustavo Quintana from PR Cambios.
Fernando Izzo of ABC Cambios added: "The income of grain exporters averages $ 120 million a day and the daily supply at $ 100. 39, others, but for the moment the demand continues to exceed the income of the North American currency. "
This context occurs while the operators and badysts wait the results from the offer of Letes announced for today. The same thing will raise money for a year and can be subscribed in pesos, dollars or exchange letters from the Central Bank (Lebac).
The intention of the government is to be financed on the local market and to attract pesos to decompress the foreign exchange market .
"For the subscription of Letes to Lebac, the actual amount in US Dollars of the seized Letters will be converted into pesos at the exchange rate established in According to Communication" A "3500 of Wednesday, July 4, 2018 of $ 28.0317 for every US dollar, "he told the Ministry of Finance on his website. ] Although in principle this tender was announced for last Tuesday, the Nicolás Dujovne leadership portfolio has been extended until today. because of the "demand of potential participants and under the ac time By cons, in the retail item the price of the US currency has dropped slightly by three cents, since It was $ 28.75
In the Banco Nación there was a decrease of ten cents in the quote to the public to finish at $ 27.50 for the next year. purchase and $ 28.50 for sale
In contrast, the highest price validated in the city remained for the third consecutive day in the $ 29 (Galicia), followed by the $ 28.90 in Itaú and Macro, and the $ 28.85 of Patagonia
Meanwhile, in the futures market Rofex, the quotation for the end of the year is located at $ 34.35.
Rates
In the before exchange for Letes that the government pushed, the rates of the Lebac were fired until 65% . This is with the mission of capturing investors and discouraging the flight to the dollar, as the yields in pesos soared to 15 percentage points this week.
BCRA's letter banks, that before the rise of reserves they must increase its positions in national currency, and exchange by Letes.
The steep rise in rates is part of the Government's various strategies to stop the escalation of the In this way, the national currency yields of these newspapers "dropped" the 42% they offered on the secondary market until last Friday, and they climbed around 15 percentage points to reach a maximum of 67% per annum for the shorter term of 15 days
In other words, the goal is to provide attractive yields in pesos that will win the rate hike to change now
In fact, on the secondary market of Lebac they continued with increases in yields in pesos, and for the term at 15 days the rate was set at 65% at 43 days, it was positioned at 54.3%, at 78-50% and at 106 days to 48.7% a year, where in total a peso equivalent of $ 152 million am Africans was negotiated in this position.
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