With a larger bid for high rates in pesos, the dollar dropped 12 cents and approached the $ 28

A greater supply of foreign exchange encouraged by high rates in pesos dragged down to the dollar which dropped 12 cents on Wednesday and approached $ 28 in banks and the exchange houses of the city of Buenos Aires, according to the average of ámbito.com.

In a market with much lower volatility, the note marked its second consecutive drop and closed at $ 28.06 after touching a minimum of $ 28.02 on the wheel. It should be noted that in some banks, the listing has ended at less than 28 dollars (Nation, Patagonia and Macro, the latter only by meter).

With the decline on Wednesday, the dollar is accumulating a drop of 5.4% so far this month, after ending June at its historic high of $ 29.66.

In the Single Free Exchange Market (MULC), the currency fell from nine cents to $ 27.39, with a small volume of $ 523 million, before a greater interest from Local investors to be placed in instruments in pesos to take advantage of high rates in pesos exceed 40%, although in recent days there has been a slight decline in levels reached last week.

At the same time, he maintained his influence on the weakness of the currency. $ 100 million that are auctioned daily by the BCRA, on the Treasury account, of the agreement with the IMF. This Wednesday, the average cut price was $ 27,3076, with the minimum price of $ 27,3010. "With the call for bids, banks seized the opportunity to acquire the currency at a price of 27.3075, the lowest since July 13," recalls an operator.

The depreciation of the US dollar also helped stabilize the domestic exchange rate. in the world before a meeting between the President of the European Commission, Jean-Claude Juncker, and the President of the United States, Donald Trump. In Brazil, the American currency fell by 1.1%, in Mexico it lost 0.6% and in Chile it fell by 0.78%.

"There was little volume in dollars, and financial affairs went through the badyst Fernando Izzo

That made the pressure of the supply feel with some intensity at first quarter dominio.com period of the day, during which the floor price was hit, at $ 27.30 With ups and downs, an improvement in purchase orders allowed a recovery that has just managed to reduce the drop in the exchange rate.

Of course, the effects of the monetary brace imposed by the BCRA to dilute a better climate in the rest of the regional markets has been combined to recreate a scenario which "depresses the value of the dollar rejecting it for the moment as a factor of financial disturbance", badyzed by Gustavo Quintana, of PR Corredores de Cambio

Of the group SBS, they underlined that "in real terms, the currency re ste at levels that still exceed the maximums before the exchange rate, while the volatility of the real exchange rate continues to fall and around normal levels. "

The market was attentive to the call for tenders from Letes in dollars, where the focus will have to be on the amount of bids received by Teso

Meanwhile, on the money market between the banks, call-money was operated at 37%, and Lebac's secondary market rates fell slightly to 44.85% for the 21-day period (45.1%), while for the 199-day period, it remained stable at 42.35% 19659003] In the ROFEX futures market, $ 1,118 million was negotiated, of which more than $ 250 million was transferred from July to August, with $ 1 difference between the two at the close of the market, at $ 27.53 and $ 28.53, with a rate of 42.76% The shortest terms fell by 15 cents and the longest fell up to 25 cents, reported ABC Mercado de Cambios.

In the informal place, the blue closed unchanged at $ 28.70 according to the ude of this environment in the caves of downtown Buenos Aires. Meanwhile, the "contad con liqui" gave 25 cents to $ 27.48

Finally, the reserves of the Central Bank fell from $ 324 million Tuesday and ended at $ 59 110 million . 19659016] [ad_2]
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