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The dollar recorded the highest monthly fall since October and closed below the zone



He agreed with One and Free Stock Market (MULC), where the currency fell by 16 cents per $ 37.35 and collected a 35 cents loss in January, below the zone of non-intervention that was established today by the Central Bank $ 37,860 and $ 48,995. The monthly fall in the wholesale segment occurred despite the fact that the Central Bank intervened in the purchase of US $ 560 million, in order to avoid the postponement of the exchange rate, something that, according to operators, could not be specified.

We must not lose sight of the fact that, as informed by Ambita Financiero, the market has rejected that today, or unsuccessfully tomorrow, the announced decision of the Central Bank to increase the amount of daily purchases from the current 50 million dollars. , which at this time did not have a major impact on the market, to $ 150 million originally planned in the new monetary policy scheme.

"The expectation is growing for the effects that will have the expansion of the US central currency – which would be judged – as well as the recent strategy of speeding up the rate of interest rate cuts, in search of the ability to convert the dollar into a group," said economist Gustavo Ber.

Also, monetary authority is now placed on the steering wheel Likuiditi (& quot; Lelik & quot;) Lirics for $ 145,000 million at an average rate in significantly lower 53.687% t seven-day (on Wednesday closed to 54.889%). While the maximum prize was 54%, and the minimum 51.999%.

"All developing markets are fortifying against the dollar due to yesterday's decision of the Fed not to touch the interest rate", highlighted by ABC Mercado de Cambios.

It should be remembered that United States Federal Reserve He maintained stable interest rates on Wednesday, but said he would be patient in increasing the cost of loans this year and pointed to growing uncertainty about US economic outlook.

In the meantime, from the consulting company Delphos Investement, they claimed that "this week marked a turning point for the questions in the pesos that were guided by the current good financial moment." speculative. "

And they added it "This was reflected in the re-acceleration of the growth of time deposits, which increased (an increase of 6.5%) compared to the previous month and the appetite for private placements in the pesos was renewed, which resulted in an increase in the amount of emissions and a reduction in the required yields".

It should be noted that the currency today has given up position together with a very active offer that has dismantled the resistance that offers demand for coverage. Falls of the session were recorded at $ 36.90 shortly after the start of operations, while in the last trading day, the securities reached a higher intensity, reaching a maximum of $ 37.35.

According to Gustav Quintani, PR Corredores de Cambio, the collapse of the dollar "in some way contradicts the projections of analysts who expected the evolution more in line with the official guidelines that set the values ​​of the zone of formal nonintervention."

He also said that "The constant decline in the reference rate set by the Central Bank did not have any effect on the evolution of the dollar that kept the trend of weakness whose turnover seems to be least likely in the short term".

The fall in the currency on the local market is taking place according to the region. So much so that in Brazil on Thursday was 0.9%; in Chile, 1.9% and in Mexico 0.4%.

The dollar in the world

The dollar weakened on Thursday afterwards The Federal Reserve has pledged to be patient in its interest rate increase cycle in the United States, the ad that drove the euro.

As expected, the Fed held stable rates on Wednesday and, in a formal policy change, said it would be patient in terms of additional increases due to rising uncertainty in the United States.

The dollar index lost about one 0.2%, for at least three weeks from 95.16. In previous operations, she has already lost 0.4%.

Other markets

In the money market between banks Call money it was operated on an average of 44%.

In the ROFEKS 1,785 million USD were operated, of which more than 45% were agreed in the period from January to February, and in the end they amounted to 37,06 USD and 38,60 USD; with a final rate of 47% until it ceases to operate in January at 14:30. March closed at $ 39.75 with a rate of 39.75%. The prices were low in the environment of $ 0.25, which followed the drop in the location.

In the informal market, in turn blue It fell 75 cents to $ 37.50 and consolidated below the official allegations, according to a study of this media in the caves in the center of Buenos Aires. In the meantime, "contad con likui" on Wednesday gave nine cents to $ 37.41.

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


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