BCRA bought another $ 50 million and the dollar rose slightly to $ 38.06 (it's still below the zone)

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In the banks and agencies of the city of Buenos Aires, dollar advanced three cents this Monday to $ 38.06according to the average of ambito.com.

While in the Single and Free Exchange Market (MULC) advanced only 10 cents to $ 37 after the participation of the monetary authority in Siopel. the The average purchase price of the auction was $ 37.13 and the maximum price was $ 37.14..

Despite this increase, the currency continues below the non-intervention range, today at $ 37.45 and $ 48.47. "We should not think that this current weakening of the dollar is a constant trend, nor that the current monetary plan enjoys credibility and achieves all the desired results, both in terms of exchange rate stability and inflation," he said . the consultancy of Economics and Regions.

Prices had a mixed route which showed an initial increase that was diluting along the wheel. The pressure of the highlighted offer eventually cut off all the gain from the opening accommodating the values ​​with a very discrete growth that in any case kept the citation quite far from the lower limit of the area of ​​official non-intervention.

the the demand for coverage has become strong in the first part of the day pushing a price increase that touched during this period the highs when operated at $ 37.21, thirty-one cents above the previous close.

then, the slow but persistent reappearance of supply was diluting the initial pressure with decreases in the values ​​accented after the official auctionthe. Revenues from foreign sales have fueled sales orders, forcing retracements that almost closed the closing date when they were trading at $ 36.97.

On the supply side, grain exporters are adding an average of $ 85 million a day for grain crop settlements.

The analyst Gustavo Quintana stressed that "the the improvement of the contribution did not allow to significantly limit the distance that separates it from the lower limit of the area of ​​official non-intervention and keeps it at a lower level than expected for the first month of the year. "

at the same time, the Central Bank approved another decline in the Leliq rate, the seventh in consecutively, in which it allocated $ 172.096 million (exceeded 193.244 million). The performance of the liquidity letters of the monetary authority pierced 58%, reaching an average of 57.80% per annum, 0.306 percentage points lower than last Friday.

In the informal market, on the other hand, the blue gave 25 cents to $ 39, according to the survey of this medium in the caves of the porteño microcentro. In turn, the "peasant with liqui" fell 20 cents to $ 36.89.

Other markets

In the money market between banks, call money was traded at an average of 52%. In foreign currency swaps, $ 200 million has been agreed to withdraw and / or place funds in pesos through the use of dollar purchases on Tuesday and Wednesday.

In the Rofex futures market, $ 472 million were traded, of which over 55% was agreed in January and February terms at $ 37.78 and $ 38.986 with rates of 45.26% and 43.54% respectively.

Despite the purchases made during the day, the reserves of the Central Bank were lowered on Monday U $ S 78 million to $ 65.958 million, because "the payment of BIRAE 22/23/27/28 services for US $ 226 million has been made, to international organizations for US $ 6 million and a payment for transactions carried out via the SML system for US $ s 4 million.

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