Thursday , February 25 2021

The dollar falls 58 cents to $ 38.07, despite the BCRA's purchase of $ 50 million

It is in tune with the Single Market and Free Exchange (MULC), where the currency falls 41 cents to $ 37.10 and departs from the zone of non-intervention established today by the Central Bank between US $ 37,860 and US $ 48,995.

In the informal square, in turn, the blue drops 50 cents to $ 37.75 and consolidates below official prices, according to the survey of that medium in caves in the center of Buenos Aires. Meanwhile, "contad con liqui" on Wednesday gave nine cents at $ 37.41.

"All emerging markets are firming up against the dollar because of yesterday's Fed decision not to touch the interest rate", highlight of the ABC Exchange Market.

It should be remembered that the Federal Reserve of the United States He kept interest rates steady on Wednesday but said he would be patient in raising credit costs this year and pointed to mounting uncertainties about the US economic outlook.

We should not lose sight of the fact that, as reported by Ambito Financiero, of the market they discount that today, or in the absence of tomorrow, the decision of the BCRA will be announced and they expect that the amount of daily purchases increases of the current $ 50 million, that at the moment did not have great impact in the square of the exchange. According to estimates, the number could return to the $ 150 million originally envisaged in the new policy framework.

"This week marked a turning point for issues in pesos driven by the current good financial momentum, during January there was a recovery in peso demand, focused on the demand for speculative money," Delphos Investment said.

He added that "This was reflected in a reacceleration of the growth of the term deposits, which reaches 6.5% (an increase) in relation to the previous month and a renewed appetite for private placements in pesos, which resulted in an increase in the amount of emissions and a decrease in required yields ".

The fall of the currency in the local market occurs in consonance with the region. So much that in Brazil it yielded 0.9% on Thursday; in Chile, 1.9% and in Mexico, 0.4%.

On Wednesday, in a volatile wheel, the dollar rose five cents, while the wholesale currency fell 19 cents to $ 37.51, on a day when the Central Bank intervened with the purchase of $ s. 20 million (accumulated US $ 510 million in January) and also validated a new and significant reduction in the interest rate in pesos.

In addition, the monetary authority Send "Liquidity (& # 39; Leliq & # 39;)" Ringtone to your Cell for $ 160,000 million at an average low significant rate of 54.889% per year for seven days (on Tuesday closed at 55.639%). The maximum rate assigned was 55.190% and the minimum rate was 53.5%.

Dollar in the world

The dollar depreciated on Thursday after The Federal Reserve has committed itself to being patient in its cycle of increases in interest rates in the United States, an announcement that boosted the euro.

As expected, the Fed held steady rates on Wednesday and, in a formal policy shift, said it would be patient in the face of any further increase due to rising uncertainty in the United States.

The dollar index has lost about one 0.2%, up to a minimum of three weeks of 95.16. In previous operations, it had already lost 0.4%.

Other Markets

In the money market between banks, the call money It was operated on an average of 48%.

At the ROFEX US $ 2,020 million were operated, of which more than 50% were agreed in terms of January and February, operating at the end at US $ 37.55 and US $ 38.71; with rates of 38.92% and 40.27%, respectively. Prices were low in the environment of $ 0.25 following the low end of the spot.

Finally, the Central Bank Reserves $ 39 million fell on Wednesday to $ 66,406 million.

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