The dollar took off again and reached a new record. He placed last 44.92 pesos, an increase in the weight of 1 and 25 cents a day (2.86 percent) and the registration of 4 pesos to 78 cents a month so far (11.90 percent), devaluation pressure in the region & # 39 is one a key to explain the jump in the exchange rate element, but his shot finds the local factors that increase and takes eight days. Brazilian real recorded growth of more than 3 per cent and reached one of the highest levels in the last 20 years. Weight accompanied this trend and brush 45 pesos. The central bank is not around to keep the exchange rate pressure. Interest rates rose to 67.75 percent (from 66.93 previously), but were ineffective to keep buying dollars in the domestic market. Stocks fell again by more than 300 million per day and store nearly 1.5 billion loss in a month.
Exchange rate started the morning with an increase of almost 2 percent. Wholesale operating with banks and large investors began at 43 pesos (36 cents higher than the previous day). From there, the pressure continued to increase and the wholesale dollar closed the circle at the peak of 43.87 pesos. The daily gain was 1 weight 23 cents. The dollar racked up in March, an increase of nearly 12 percent and 16 percent this year. This creates various problems of macroeconomics. The focus is on inflation. Currency rise faster to find and price expectations of inflation this year at close to 40 percent of the floor.
Dollar dragged all financial assets. Stock market of Buenos Aires passed through Black Wednesday with a drop of almost 4 per cent, measured in hard currency. Argentine companies traded in New York, took the brunt. The 19 companies on Wall Street ended in the red. Banco Supervielle returned to its lowest level since the end of last year, registering a fall of 2.3 per cent, to close at $ 6 per share. Banco Macro fell by 6.9 percent and Grupo Financiero Galicia, 4.8 percent.
Country risk continues to increase up to 791 points. An increase of 31 units. This is due to the sharp decline in the price of foreign currency bonds. The names of the medium and long term have been the most affected. Argentina 2037 killed low level of 3.6 percent, while discount 2033 lost 3.2 percent. Bonnard 2024 record 2.2 percent drop and fell 2.6 Argentina 2020. Some names are already trading at a level of 70 per cent of parity and gives shed more than 12 percent. These figures are from the & # 39 are the highest in the region after Venezuela. Foreign investors continue to opt out of Argentine assets in their portfolios and boost bond prices decline.
International reserves of the & # 39 is one of the variables that shows the financial position of wear. Central Bank currency closed yesterday at 66,866,000, a difference of 314 million dollars. This week has already fallen hard for the payment of repurchase of debt with international banks and so far this month, a drop of 1.478 billion accumulates. The monetary authorities are anxiously awaiting the arrival of dollars the International Monetary Fund. The Treasury received credit agency approval to sell $ 60 million a day since April. The official reading says that those currencies will ensure a constant supply in the market and will help ease the tension. Amount seems low, taking into account the on & # 39; the amount of operating in the foreign exchange market on the day. In the day yesterday was 851 million.
camp liquidation of another element that the government consider the possibility of a lower exchange next month pressure. The problem is that agroexportador sophisticated and advanced that will not settle with the exchange rate is less than 50 pesos. The argument offered by employers with & # 39 is financially justified. The premise is they do this is simple: if the central selling p & # 39; yuchersy at prices above 57 pesos, it makes no sense to sell the crop at a dollar 45. behavior is repeated in the internal market for depositors. Increase the dollar, but the people with savings in foreign currency prefer to keep in expectation of further devaluation. The main emphasis in the fact that the devaluation expectations continue to accelerate with each passing day. In exchange f & # 39; yuchersnyh markets 62.50 pesos in February, in effect next year.