surprise in the city
Ticket surges, explaining operators, must be done by stripping the position of the peso before the fall of the Central price. In addition, there is a lack of liquidity
The dollar closed with a strong advance on Friday driven by the stripping of a carry trade position (assets passed in pesos to dollars) and influenced by small volumes throughout the week by walking holidays (local as in the United States).
So everything wholesale dollars jumped pesos by ten cents on the last day of the week to stay at $ 37.60. "Today's rise has not been repeated by the magnitude since late September and brought the exchange rate to a level similar to the first days of October," said Gustavo Quintana, PR operator Cambios.
Tickets, in fact, reach a maximum of $ 37.90 half an hour after closing when suddenly there is buying pressure that does not find who sold it and therefore prices soar.
In this way, in the week that just ended, the wholesale exchange rate collected a one-peso increase of sixty-seven cents compared to last Friday's closing.
In connection with retail quote, also saw an important jump in the peso with ten cents to close at $ 38.50 (1.52 pesos in a short week). In some banks, in fact, come to pay fifteen cents more from the average Central Bank outlining among the main entities of the City.
The upward movement of the bill, to continue next week, will definitely make the Central must cancel the reduction in interest rates. However, on Friday, the monetary authorities continued with the path of declining last weeks.
This was done by the auction Liquidity Auction for 10 days and the amount given was $ 134,854 million. The average cutting rate is 61.405%, down.
"In Argentina people don't have a fixed period of time as long-term savings, they have it because they give more interest than dollars. Then they generate profits and return to dollars. Be careful with BCRA, don't be confused"said CEMA economist Carlos Rodríguez.
"How far can BCRA reduce the level and accommodate the implicit future by minimizing overreaction from the exchange rate? The game is: capital gain with the level of compression in the peso curve (effect duration) versus various dollars from the lower band," said Federico Furiase, director Eco Go.
Bank based on bank
In all banks in the city, the dollar closed above $ 38. For the most part, it made it above $ 38.50.
Contributions, according to the average outlining the Central Bank, are as follows:
Banco Galicia: $ 36.60 – $ 38.60
Banco Nación: $ 36.75 – $ 38.45
ICBC Bank: $ 36.85 – $ 38.85
Banco Francés: $ 36.41 – $ 38.39
Banco Supervielle: $ 36.40 – $ 38.20
City Bank: $ 36.75 – $ 38.65
Banco Patagonia: $ 36.65 – $ 38.65
Banco Santander: $ 36.60 – $ 38.60
HSBC: $ 36.30 – $ 38.30
Banco Crediccop: $ 36.55 – $ 38.47
Itaú Banco: $ 36.50 – $ 38.50
Banco Macro: $ 36.20 – $ 38.10
Find out the latest about digital economics, startup, fintech, corporate innovation, and blockchain. CLICK HERE