After three hot days of zozobra in the market, with sharp rises in the dollar price that yesterday reached its all-time high of $63, trades took place on Thursday with a lot of volatility and finally the greenback backed up and closed to $59 on the slam In the wholesale market, the dollar closed at $57.25, three pesos and fifteen cents less than at yesterday’s close. The relief, which in no way implies a tendency or a stop, is at least a sign behind the political gesture of President Mauricio Macri and the opposition candidate, Alberto Fernández, who yesterday dialogued and agreed to work to «calm the markets». Today the intervention of the Central was also key. On the one hand he demanded that banks and financial institutions reduce their dollar holdings, and on the other he prioritized «taking care of reserves,» as demanded by the everyone front candidate, Alberto Fernández, and did not sell dollars.
In turn, the monetary authority kept the Leliq rate, which is almost 75%, almost intact.
The measure adopted by the BCRA appeared to have an effect and on a less intense development wheel, managed to slightly cut the successive ups of the wholesale dollar— Gustavo P Quintana (@guspaqui)
August 15, 2019
The Treasury, meanwhile, sold only $44 million of the $60 it was offering every day. Carlos Rodríguez, the former Deputy Minister of Economy, emphasized that «sensatity» prevailed and that the markets reacted positively to Alberto Fernández’s conference.
Today the markets reacted positively to the @alferdez conference. His senato speech helped the Argentines a little. I hope that kicking the world and promising to multiply the loaves doesn’t work. Wisdom prevails. Thank you. You can. — Carlos Rodriguez (@carod2015)
August 15, 2019
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