After auction of the BCRA for another $ 50 million, the dollar rose 14 cents to $ 38.20


It was in tune with the Single and Free Exchange Market (MULC), where the currency increased10 cents to $ 37.10, after touching an intraday high of $ 37.30, in a day with marked volatility and changing direction.

At the auction of the monetary authority, the average purchase price was $ 37,0368 and the maximum, at $ 37.05.

With the dollar below the free floating zone, the BCRA participated in four consecutive auctions between Thursday and Tuesday, incorporating a total of US $ 160 million to the stock of reserves.

On Thursday of last week it auctioned US $ 20 million, on Friday US $ 40 million, yesterday US $ 50 million and today another US $ 50 million.

In the first part of the day a trend of relative stability was maintained with the values ​​stabilized in a discreetly higher range than the previous day. During this period, the minimums were recorded when operating at $ 37, the same record of the previous closing.

After the official auction the values ​​remained lateralized until a strong buying current was installed in the market leading prices to reach highs at $ 37.30, a level quite far from the minimum of the wheel. In the end, a supply remnant with scarce placement cut the rise and accommodated the prices at a higher level than the previous closing.

Also, the monetary authority tendered $ 211,631 million in Liquidity Bills (Leliq) to 7 days at an average interest rate that it fell 19 basis points and closed at 57.610%.

In the auction -which generated a liquidity contraction of $ 446 million- the maximum rate was 58% and the minimum was 57.05%.

The analyst Fernando Izzo, from ABC Mercado de Cambios, stressed that "the operators do not understand the BCRA game since on Monday he announced that he was going to auction $ 50 million with two and a half days in advance (it was held at 12.30) and today announced at 11 that, in five minutes, the daily auction began ".

The specialist stressed that "before 14 it is early to conduct the auction considering that operators just after that time have a clear picture on what type of marketing should do taking into account the compensation usually made for the variety of businesses."

From PR Corredores de Cambio, they indicated that "despite official purchases and the slight rise in the exchange rate, the values ​​persist in a range that is clearly below the lower band of the official non-intervention zone (today located between $ 37.47 and $ 48.50) ".

They indicated that "the auctions of the Central Bank do not have the necessary forcefulness against the flow of income as to clearly reverse the tendency to the appreciation of the peso and only seem to constitute a mechanism of regulation of the monetary base with little impact on the price of the dollar. "

At informal market, meanwhile, blue rebounded 25 cents to $ 39.25, according to the survey of this medium in caves of downtown Buenos Aires. In turn, the "contado con liqui" fell on Monday 20 cents to $ 36.89.

Other markets

In the money market between banks the call money it was operated at an average of 53%. In foreign exchange swaps, $ 169 million was agreed to take and / or place funds in pesos through the use of dollar purchases for Wednesday and Thursday.

In the futures market Rofex, US $ 824 million were negotiated, of which more than 65% was agreed in the terms of January and February, operating at the end of $ 37.98 and $ 39.23 with rates of 54.11% and 47.63 % respectively.

Yesterday, despite the purchases made during the day, Central Bank reserves fell this Monday U $ S 78 million au $ s 65,958 million, because "the payment of services of BIRAE 22/23/27/28 for u $ s 226 million was made to international organizations by US $ 6 million and a payment for transactions carried out through the SML system for US $ 4 million.

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