The dollar returned to the floor of the exchange band


The main financial variables ended yesterday with encouraging resultsamong those who stood out the drop of 14 cents of the dollar in the retail market and the collapse of Country Risk, which was a step away from the barrier of 700 basis points.

The US currency fell again yesterday after the rebound in the previous session and ended at $ 36.55 for the purchase and $ 38.49 for the sale in the black boxes of banks and exchange houses.

The wholesale dollar, which banks and large companies trade in the Electronic Open Market (MAE), It fell 23 cents and closed the day at $ 37.17 for the purchase and $ 37.37 for the sale.

Then again addressed the floor of the non-intervention track (yesterday was $ 37,331) that began to implement the Central Bank early last October, in the framework of the new and more aggressive monetary policy to calm the fever in the exchange sector and stop the inflationary rush.

Traders acknowledged growing expectations about the possibility that the wholesale dollar would pierce the lower end of the range and thus allow the monetary authority to exit to acquire foreign currency to prevent further devaluation and strengthen reserves.

The Central Bank took advantage of the situation in the foreign exchange market to continue with the drop in the Liquidity Notes rate (Leliq), which represent the benchmark for the market. The monetary authority that Guido Sandleris yesterday auctioned seven-day letters for a total of 155.303 million pesos. On the operation, the average rate was 58.782%.

The measurement indicator the JP Morgan bank fell 2.8% yesterday and remained around 708 basis points, its lowest level since the beginning of December.

Country risk (which is based on the difference between the rates paid for Argentine bonds and those of US Treasury bonds) prolonged its fall to move away from the maximum of 830 points it played at the end of last month.

The Stock Exchange finished with an important growth favored by the good performance of the reference markets, the Buenos Aires Stock Exchange advanced 2.9%.


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