US EditionThere Are Already Millionaire Offers to Defend the Dollar on the Roof of the Band
11 Articles
11 Articles
In the financial market they detected strong presence of BCRA with proposals for foreign exchange sales if the wholesale exchange rate reaches the upper limit
While Milei’s government could use reserves to sustain the exchange rate band, market pressure grows and external debt alerts are on. Gustavo Reija Artificially maintaining the upper value of the exchange rate band through systematic interventions of the BCRA represents an exercise of dilapidation of scarce resources. Every dollar used to sustain an overvalued exchange rate constitutes a dollar less available to face the foreign debt maturities …
The demand for the dollar remained firm in a market where the contraction of supply is visible. For that reason, the wholesale exchange rate reached $1,466, with an increase of 0.84%, and remained only $ 6 to reach the maximum limit of the exchange band, where the Central Bank (BCRA) would have to go out to sell reserves. Economist Rodolfo Santángelo warned that the monetary entity can intervene in the market to contain the rise “one day, two da…
The currency market goes through defining moments, six weeks after the October Legislative Elections.The dollar reheated on a wheel marked by the possibility of "testing" the roof of the band and the city keeps the magnifying glass on the movements of investors.According to Sphere, in the first operations of this Monday, September 15, the Central Bank of the Argentine Republic (Bcra) went out to mark the court in the market with purchase orders …
With the Treasury deposits down, the eyes are now on the Central’s intervention. The market does not believe that there is a change in the bands here to the elections, but the doubts for later grow.
The wholesale dollar climbed to just 6 pesos below the ceiling of the band that activates the official intervention of the Central Bank. If it does, the funds that the International Monetary Fund (IMF) turned should be used. Country risk skyrocketed to 1,140 bp while the dollar bonds are still falling. Read more
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