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The Central Bank continues without standing: it sold US$ 700 million in the first week of August

The Central Bank continues without standing: it sold US$ 700 million in the first week of August

This Friday the Central Bank of the Argentine Republic sold $95 million a figure that brought the total accumulated in the first days of August to almost US$700 million. This figure reveals that the slightly calmer market at the beginning of Sergio Massa’s management at the helm of almost all the Economy springs had a high cost in reserves, which cannot stop losing ground and constitute one of the main dilemmas to which the government of Alberto Fernández is unable to find a solution.

The monetary authority reported that the reserves were located at US$ 37,211 million, which represents a drop of US$ 1,029 with respect to Friday, July 29. So far this year, the monetary authority shows a red of US$ 2,289 million.

One of the objectives of the new Minister of Economy, Productive Development and Agriculture, Sergio Massa, is generate the recovery of reserves in the Central Bankin accordance with what was expressed on the day of his assumption.

Argentina has almost no cash to avoid devaluation

In this sense, the Secretary of Agriculture, Livestock and Fisheries, Juan José Bahillo, expressed that it is expected that a export advance for US$ 5,000 million agreed with the agro-industrial sector is carried out “in the very short term,” he said this Friday

In radio statements, Bahillo specified that “the commitment (to settle US$5,000 million) would be for improve the position of reserves in the short, very short term. I don’t have specific definitions of dates, but I do know that there is a commitment for them to enter in the very short term.”

Dollar quotes this Friday, August 5

The blue dollar rose again this Friday and offered to $292 in the illegal “caves” of the city of Buenos Aires, while financials stopped falling and also closed higher.

The savings dollar or solidarity dollar -includes 30% of the COUNTRY tax and the deductible 35% of Income Tax and Personal Assets- is located at $230.77.

The tourist or card -retailer plus COUNTRY Tax, and a perception of 45% deductible from Earnings and Personal Assets- quotes around $244.76.

The “counted with liqui” (CCL) -operated with the Global 2030- operated at $289.43, with which the spread with the wholesale rate is 117.8%.

The MEP dollar -also valued with the Global 2030- rises 0.3% to $283.61, so the gap compared to the official exchange rate reaches 113.4%.

LM/HB

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