Dollar today: after the Central Bank changes, it is below US $ 43 – 04/17/2019


After the high on Tuesday, the dollar fell today from US $ 0.80, to US $ 42.60 at Banco Nación. It had closed at $ 43.38, according to the Central Bank average.

The fall follows the Central Bank's decision to keep the non-intervention exchange rate frozen between US $ 39.77 and US $ 51.47 by the end of the year and in the midst of a generalized revaluation of emerging market currencies.

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In the wholesale market, where banks and companies operate, the currency declines 46 cents to $ 41.87. Also in Chile and Colombia, the dollar is falling. In Brazil, on the other hand, it increases.

To limit the pressure on the dollar, after the inflation of 4.7% on Tuesday was known in March, the Central decided – with the permission of the Monetary Fund – to retouch the exchange rate and fix it until the end of year. current level of the ceiling and floor of the exchange bands (or non-intervention zone).

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Without this change, by the end of the year, the band's ceiling would have been $ 59.6 and the floor at $ 46. This means that now the possibility of Central Intervention selling dollars is closer.

The announcement was, in a way, a response to several economists' claims that they warned about the excessive bandwidth that left room for strong exchange rate movements without the BCRA being able to do anything.

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On the other hand, the country risk increases again: it advances 2%, to 817 percentage points. This means that the Argentine bonds are lower and it costs more for the country to be indebted to the United States Treasuries, the safest.



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