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13-07-2018
On Friday, the retail bill rose 2.5 cents, but in the week accumulated it's over with a drop. The wholesaler closed at $ 27.28. Throughout the month, the price fell 5.5%, since it hit a high of $ 28.85. Total negotiated volume reached 622 million dollars
The dollar found some calm . Beyond Friday there was a very volatile wheel which ended with a slight rise in the exchange rate, overall the whole week the US dollar ] fell 62 cents and overall month retreats 5.5%.
In other words, the last days were marked by a currency stability following the foreign exchange income by investors who subscribed the three government securities offered this week by the government , the daily auction of 100 million US dollars and other official measures, such as the rise in bank interest rates and rates of в # <в # < interest in pesos, which reached a ceiling of 63%.
Thus, the Thursday hit lower price inscribed since June 26 [194590] 07] last, when you reach $ 27.23. And he 's gone away from the $ 28.85 history that happened just three days later, June 29th.
With regard to this Friday, in wholesale the greenback climbed five cents to $ 27.28 in a context where the total volume traded has increased by 2.2% to reach US $ 622.3 million, the largest number of the week
In the BCRA Daily Auction of $ 100 million, at name of the Department of Finance, the average price cut was at $ 27, 17 .
At the time of the sale, "the disarmament of and foreign holdings again gave rise to a weakening trend in the wholesale dollar, which minimum to $ 27.15 per unit, "said PR Cambios operator Gustavo Quintana, although, after touching a floor, the value was again began to increase
As for the quote to the public the average price was $ 27.94 ] two and a half cents more than the previous, according to the 39; Central Bank survey among micro-center entities. That is, it dropped 68 cents for the whole week
On the side of the Banco Nación, the quote remained unchanged on Thursday at $ 26.70 for the purchase and $ 27.70 for sale .
The maximum value validated at the windows of the city was $ 28.20 in Galicia, followed by the $ 28 Macro, Itaú and ICBC
In the informal square, the blue operated with increase of 23 cents to $ 28.68 according to the survey in the caves of the microcentro of Buenos Aires, so located 74 cents (2.6%) above the official retail average.
The dollar of "counted with the liquidation" which results from the purchase and sale of Argentine shares listed in Buenos Aires as well as abroad, closed to $ 27.37 .
In the dollar futures exchange at Rofex, $ 523 million was exploited illones, of which 45% was agreed between July and August with final prices at $ 27.84 and $ 28.95 respectively, with rates of 46.9% and 47.6% per annum. In general, the futures contracts resulted in losses of just over ten cents, accompanying the average stability of the spot, despite the daily variability.
The contracts for end of the year were fixed price. $ 32.70 . Number that validates among investors a devaluation for 2018 from 75 percent .
The bullish vertigo that had been showing the dollar in the previous weeks has taken a break in recent days, particularly, after the Central Bank has had an increase in bank reserves in three percentage points to 26%, and also validated a jump in rates in pesos On the contrary, in the Lebac secondary market this Friday these letters from the BCRA lowered their yield , operating at 5 days at a rate of 52, at 50% and at 68 days it was 47.60% per annum, in a square where a total peso equivalent of 388 million US dollars was been negotiated.
Also with the help of bids of Letes and Bonds in double currency, with an agricultural liquidation, In summary, part of the tranquility in the exchange was due to the fact that the government has dried up the square peso with the offers it has made in recent weeks. The last was last Wednesday, when he placed three public titles for a total of 2.152 million dollars with the objective of relieving the demand for foreign currency. With all this flow could renew the maturities in Letes, in which he had to pay $ 1,200 million.
In this way, on the one hand, made a new issue of Bonus of the nation in Double Currency to February 2020 which allowed him to ambad $ 1.63 billion . And, on the other hand, he awarded 544 million of two Treasury bills in dollars to 210 and 378 days . Both instruments could be subscribed in pesos at the reference exchange rate of Tuesday ($ 27,563), or in dollars.
In addition, this Friday the Ministry of Finance announced that it will propose next Monday the reopening of National Treasury Bills in Pesos at fixed rate, due in November 2020 (BOTE 2020), which can be subscribed in national currency or in dollars.
All eyes are also directed to the "supermarkets" of " Lebacs ", where the Central Bank faces a bulky maturity of more than 500,000 million pesos and at secondary rates greater than 50% " said Gustavo Ber, Senior Economist at Estudio Ber Consultancy
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