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He closed the week at 29.66 despite attempts by the Central Bank to contain it.
The US currency was traded on the weekend with a significant increase for the fourth consecutive day, in a round where the BCRA will renew the daily wholesale auction, this time for $ 150 million. In banks and bureaux de change, the currency was offered around 29.66 pesos, in a new record, above the 28.85 $ which was on average on 15 June.
The persistent demand for end-of-month closing positions and investment hedges, both for companies and the public, as of the date of the recovery of salaries and semi-annual bonuses, there is no counterpart in the offer where the BCRA's sales position represents 20% of the average market volume.
Fear of a slowdown in the domestic economy and growing fears of a global risk aversion, which drives a devaluation of emerging currencies a few weeks ago, are not unrelated to the rise of the dollar on the local market. the note marked its third consecutive rise and accumulated a lead of 1 peso. It was in tune with the Single Market and Free Trade (MULC), where the currency climbed 66 cents and closed at $ 28.10 in a round where the need for hedging and the advance of the closing of the end of the month have accentuated demand.
The first price operated at $ 27.60 was the lowest value of the day and was far from the levels achieved with the development of the session. The hedging requirements resulted in upward corrections, which increased after the end of the official auction.
The sustained demand for dollars, in this sense, became very intense in the latter part of the wheel and caused the exchange rate to be exceeded. the barrier of $ 28, reaching maximums at $ 28.12 in the last moments. The volume traded increased by 3 per cent to US $ 716 million.
In this context, the Central Bank has carried out, on behalf of the Ministry of Finance, a cash auction (T = 0). $ 150 million. . The average price of the cut was $ 27,747, with a minimum price of $ 27.74. The amount granted has increased by 50% over the previous four auctions because of the monetary authority's attempt to stop the new escalation of the dollar.
"The increase in the amount of the auction did not have a major influence on the evolution of the dollar quote which again approached the levels recorded in the middle of the months when the historic highs were achieved, "said PR Corredores de Cambio. And they added: "the end of June kept up the pressure on prices because of the need to get coverage, but this time in a scenario that was complicated by excess demand in the market."
In the money market between banks, call money was stable at around 38%. In the context of foreign exchange swaps, $ 105 million was granted to take and / or invest in pesos through dollar purchases made on Friday and Monday. Levels of Lebac in the secondary circuit were stable in the 20-day period at 42% and 146 days at 40% TNA.
In ROFEX, where US $ 2,616 million was exploited, 60% agreed between June and July with final prices of $ 28.08 and $ 28.92 respectively with a transfer rate of 35.22%. net assets. The longest term with volume was November, which closed at $ 31.65 at a rate of 29.75%.
Meanwhile, in the parallel market, blue rose 20 cents to $ 28.50, bringing finished below the official, according to the investigation of this medium in the caves of the city of Buenos Aires. In turn, the "contado con liqui" climbed 94 cents to $ 28.23
Finally, the reserves of the Central Bank fell Thursday from 103 million US dollars to 62.892 million US dollars.
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