The words of Mauricio Macri, who before the opening of the markets announced that the Government agreed with the IMF to advance the disbursements to ensure the financing of 2019, did not reach to placate the markets. In banks, the dollar rose 27 cents to $ 32.32 according to the Central Bank average. On Tuesday it had closed at $ 32.05.
To contain the currency, the Central Bank made a new auction of US $ 300 million and sold all, with a minimum of $ 31.60. The use of reserves to limit the volatility of the currency is one of the concerns of economists, who expect Minister Nicolas Dujovne to give details of how much funds the IMF will anticipate.
The wholesale dollar had started the day with a rise of 20 cents and then settle almost the same as on Tuesday and go back up. It advanced 45 cents to $ 31.92. In Brazil, the dollar also began to rise, to then stabilize at the same values as the previous day.
On Tuesday, in another difficult day, the dollar reached a record of $ 32.14 before ending up closing at $ 32.05. And this despite the fact that the Central Bank used US $ 410 million in reserves in two days to contain the increase. In return, absorbed about 13,000 million pesos.
The demand for currency comes from several sides: the weights of those who sell Lebacs in the secondary market; the liquidity of companies (some importers, of course) and large investors and, to a lesser extent, those who take advantage of the home banking facility to convert their pesos into dollars, leaving the currencies deposited in the banks.