Saturday , November 28 2020

The dollar reduces the decline and the central bank validates a slight fall in interest rates

The dollar trimmed the original fall, which led to losing up to 40 cents at the start and dropped between 15 and 20 cents after the first Leliq auction, where the monetary authority validated a rate slightly below monetary policy last Friday

As happened between last Tuesday and Thursday, the BCRA split the auctions of liquidity letters in two. Initially, $ 104,104 million was awarded, with an average of 63,629% against 63.74% on Friday.

The maximum rate was 64,039%, while the minimum rate was 62.10%.

Wholesale dollars traded down 15 cents to $ 39.85 in MULC.

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Thus, the ticket is approaching again floor in the non-intervention area scheduled for today at $ 39.06 and a ceiling of $ 50.55.

In the retail market, the dollar showed a similar behavior and traded at $ 40.80 on the screen of Banco Nacion (BNA), 20 cents during Friday's seal.

The average of the banks that BCRA performs sets the price of the ticket at $ 40.79, which is equivalent to a 34-cent backlash.

The blue dollar drive of $ 41.

The Central Bank announced today that it will reinstate the Leliq bid until Friday, as it happened between Tuesday and Friday last week.

The company led by Guido Sandleris will offer the market Letter of liquidity for 7 days in term, in 2 bids with the aim of "improving monetary signal" for an indicative amount of 190,000 million. $ in a round with maturities of 185.727 million.

On Friday, the monetary authority recognized that it is analyzing the extension Leliq's maturity, which can be from 7 to 30 days. In this way, the monetary authority seeks to transfer the monetary policy rate, which exceeded 64%, to fixed terms, on average 35% in most banks.

In the last press, at a press conference, Sandleris announced that he will expand the zero growth of the monetary base until the end of the year and stated that The area of ​​non-intervention exchange will grow at a monthly rate of 1.75%. in the second quarter of 2019 and not 2% as in the first or 3% as in the previous year.

With this measure, the monetary base goal at the end of the year appears to fall 10% compared to the original targets.

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