Financial dollars and blues both had a day of notable losses and the Central Bank reached $25 billion in gross reserves this Friday.
Following the successful tender of Boprial and the joint announcement by the Commerce Secretary and the Central Bank to provide 80% of SMEs access to the Free Exchange Market (MULC) to cancel their loans with importers, the Forex market responded satisfactorily and All prices fell rapidly.
The blue currency in Buenos Aires city fell by 25 pesos, the sharpest decline in the last 15 days. Unofficial bills closed at $1.1770 for buying and $1.220 for selling, erasing the entire weekly gain.
It has gained 19% so far this month, from the December close at $1,025 to the current $1,220, about 195 pesos. With yesterday’s and today’s decline, the exchange differential against the bulk dollar has breached the 50% level and stands at 48.15%.
The one who graded with the most significant loss of the day was Contado with Liqui, who faced less pressure after yesterday’s news. With a more certain outlook, companies can hold off on moving to CCL while awaiting entry into MULC. This Friday, between the purchase and sale of shares, the price fell by 52 pesos (-4.08%) and closed at $ 1,229.71. The price dropped by 76 pesos over the week and was very close to the blue and the gap remained at 49.33%.
For its part, MEP also operated downwards with a decline of 3.53% or 43 pesos and closed the week at $1,185.95 and became the cheapest option for users to get tickets. The difference ends the week at 44%.
The wholesale dollar adjusted daily as it is doing with the crawling peg and closed at a value of $823.50. In the week just concluded, the wholesale exchange rate rose to $3.80, slightly above last week’s last correction of $3.70.
At Banco Nación the price is $842.75 and at other banks the price is $871.96.
Thus, the card has a dollar value of $1,348.40 and is the most expensive on the market.
The Central Bank bought again and ended the week with reserves of more than US$25,000 million
The Central Bank has continued the process of purchasing dollars. This Friday it made $117 million And for 33 days he managed to become a buyer in the Forex market
Buying totaled USD 802 mm for the week, USD 3,032 mm for the month and USD 5,894 mm since December.
The good news is that reserves reached US$ 25,004 million due to foreign exchange purchases. While this is positive, it is also temporary as next week it will face the maturity of capital and interest payments with the IMF and disbursement of some US$2,800 million (1954 + 844.50) between January 31 and February 1.
There is still no date for the IMF Board to meet to approve the final review, which coincided with the visit of the Fund’s delegation, and the fresh inflows have not yet been released.