The Central Bank overcame fears which meant an important exchange jump on Monday and managed to end the week – because tomorrow will have a banking holiday – with the dollar returning to values last Friday.
On a typical day for the G20, where it operates in a reduced schedule cut at 13 hours, the currency closes at $ 38.77 according to the retail average. So the price dropped 76 cents a day and moved away from the $ 40 that came on Monday.
However, it is still far above $ 37.43 last Thursday. Market sources explain that the decline comes from the market practically without volume, where small deals can suddenly change quotes.
In the wholesale segment, the currency finally operated at $ 37.72 with a volume of 305 million dollars and without operations in the MAE futures market. Thus, the week ended up 0.32% and ended November with a gain of 4.92%, that is, one peso with seventy-seven cents.
On the other hand, the Central Bank took advantage of this situation to continue with a reduction in interest rates and even to achieve important monetary absorption.
In the new Leliq auction, he awarded $ 189.162 million at an average reduction rate of 60.75% with a maximum of 61.02%. In this way, it drew $ 40.901 million from squares and after lowering interest rates by 44 basis points, it placed it at the threshold of the promised 60% minimum to be respected until there were two consecutive decreases in inflation expectations.
"After Friday and Monday where the dollar rebounded strongly, the Central Bank was able to hold it back by removing excess peso released last week, but the positive thing is that this contraction was achieved without the need to raise interest rates," financial analyst Christian Buteler said.
Positive results also came from the Ministry of Finance. Dujovne placed 833 million dollars in Letes at an annual nominal rate of 4.75% and capital letters in the Peso (Lecap) of $ 13,245 million at an annual rate of 53.49%.
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