surprise in the city
The ticket jump, operators explain, has to do with the disarmament of positions in pesos before the Central rate drops. In addition, lack of liquidity
The dollar closed sharply on Friday, boosted by the disarray of carry trade positions (assets were passed down in pesos to dollars) and affected by the small volume that went all weekend for the year-end race in the United States).
So things the wholesale dollar rose one peso with ten cents on the last day of the week to stand at $ 37.60. "The high of today has not been repeated by its magnitude since the end of September and took the exchange rate to a level similar to that of the first days of October," said Gustavo Quintana, operator of PR Cambios.
The ticket actually peaked at $ 37.90 for half an hour after closing, when unexpectedly there was a buying pressure that did not find who sold it and therefore the price jumped.
Thus, in the week that has just ended, the wholesale exchange rate accumulated an increase of one peso, 67 cents and seven cents from the close of last Friday.
Concerning retail citation, also saw a major jump from a peso with ten cents to close at $ 38.50 (1.52 pesos in the short week). In some banks, he even paid fifteen cents more than the average that the Central Bank elaborates among the main entities of the City.
The upward movement of the project, to continue next week, will certainly cause the Central to abort the rate reduction. On Friday, however, the monetary authority continued the downward trajectory of recent weeks.
It held an auction of Liquidity Letters for 10 days and the amount granted was US $ 134,844 million. The average cut rate was 61.405%, below.
"In Argentina, people do not have fixed terms as long-term savings, they have them because they give more tax than the dollar. So they make the profit and return to the dollar. Be careful with this BCRA, do not get confusedsaid CEMA economist Carlos Rodríguez.
"How far can the BCRA lower the rate and accommodate the implicit ones in the futures, minimizing the exaggerated reaction of the exchange rate? The game is: capital gain by the compression ratio in the weight curve (duration effect) versus a dollar series the bass band, "said Federico Furiase, director of Eco Go.
Bank by bank
On all banks in the city, the dollar closed above $ 38. For the most part, it made upwards of $ 38.50.
The contributions, according to the average prepared by the Central Bank, were as follows:
Banco Galicia: US $ 36.60 – US $ 38.60
Bank Nation: US $ 36.75 to US $ 38.45
ICBC Bank: US $ 36.85 – US $ 38.85
Banco Francés: US $ 36.41 – US $ 38.39
Supervielle Bank: US $ 36.40 – US $ 38.20
Bank of the city: US $ 36.75 – US $ 38.65
Banco Patagonia: US $ 36.65 – US $ 38.65
Banco Santander: US $ 36.60 – US $ 38.60
HSBC: $ 36.30 – $ 38.30
Crediccop Bank: US $ 36.55 – US $ 38.47
Banco Itaú: US $ 36.50 – US $ 38.50
Banco Macro: US $ 36.20 – US $ 38.10
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