The Central Bank bought US$280 million in one day, the highest amount since the end of May
The amount practically equals what the monetary authority had taken in the first six rounds of the month. The retail exchange rate closed at $1,405.
The Central Bank bought US$280 million in one day, the highest amount since the end of May
The dollar fell five pesos, to $1,405. REUTERS/Dado Ruvic/Illustration/File
Clarín Editorial
The Central Bank opened the week with a purchase of US$280 million. It is the highest amount for one day since May 28. And it practically equals the US$ 290 million that it had accumulated in the six previous rounds in July.
With this, the Central adds US$ 570 million in the month and in the year it is close to US$ 12,000 million.
With this operation, the Central accelerates purchases, since last week it was acquiring much smaller amounts, around US$ 25 million.
And it does so on the day in which the dollar falls five pesos at the retail level, to close at $1,405 at Banco Nación. For its part, the wholesaler lost 0.4%, to $1,482.
"BCRA bought US$280 million in 1 day. More or less what Argentines spent in a month on the World Cup," economist Fernando Marull wrote on the social network X.
The Central purchase was boosted by the XL weekend, which increased supply and gave them more room to operate. "In the exchange market, the wholesaler operated offered throughout the round with strong commercial offer after the long weekend, in a very favorable external context for Argentina's terms of trade," Proficio Investments indicated.
However, the amounts traded in this round were not so high: US$ 497 million were negotiated and another US$ 768 million in futures.
In the market they point out that the Central could have made a "block" purchase, with foreign currency offered by a company or province after a debt placement.
Despite this purchase, the Central's reserves fell to US$48,205 million, a reduction of US$517 million. The withdrawal is linked to the payment of the Bonares that were due on the July 9 holiday and that were made today in the local market.
At the end of the round, the Ministry of Economy announced through the Ministry of Finance that this Wednesday they will hold a debt tender with which they seek to refinance US$ 2,000 million in securities that will mature throughout July. Bonar 2029 was included in the menu of titles that it will offer to the local market.
Attentive to next Wednesday's agenda, with the match between Argentina and England for the World Cup semifinals that will be played at 4 p.m. as the main event, Economía resolved that the tender, which usually closes at 5 p.m., will this time end at 1 p.m.
In this placement, Economía aims to capture part of the dollars that remain in the hands of the savers who this Monday collect the maturity of the bonars.
In this Monday's session, Argentine bonds fell 0.2%, which caused the country risk to rise 0.7%, to 405 basis points.
The shares also had a negative day with a fall in the Merval of 1.4% in the peso version and 1.8% in dollars.
On a negative day for global markets due to the rise in tension in the war between the United States and Iran and the rise in oil, Wall Street indices ended in red: the Dow Jones lost 0.3%, the Nasdaq fell 1.9% and the S&P lost 0.8%. This affected most of the Argentine ADRs listed on Wall Street, with BBVA leading the losses with a decline of 5.6%.
:::::::::::: Source Clarin.com ::::::::::::::::
