Laura Garcia
02/09/2020 - 6:01
Clarín.com
Economy
They fell to US $ 900 million in May when the partial reopening of the banks made it possible to withdraw the dollars.
But not only did that trickle stop, but the wave of savers buying their $ 200 quota
turned the trend around
.
In August, deposits in dollars grew again, driven by those who leave them in the bank and
do not turn to sell it in the informal market
.
What in the jargon is called "mash": buy at the solidarity price and sell it at the blue price.
They are those who see it as
a form of hoarding
or do not have the need for now to convert them to pesos to meet expenses.
Thus, deposits went from US $ 16,979 million on the last day of July to
US $ 17,238 million
on August 27, the latest data published by the Central Bank.
It's an increase of US $ 260 million from US $ 198 million last month.
But it is the movements in
the savings banks
that reflect the behavior of those who buy the modest portion of dollars that the stocks enable.
It is that today the majority buy by homebanking and the accreditation in the account is automatic.
There are US $ 12,385 million in dollar savings accounts in the system,
US $ 226 million more than at the end of July.
But in the course of August they touched a maximum of US $ 12,490 million in the first days.
From there,
a pattern emerges
that repeats itself because they begin to decline as savers withdraw dollars to sell them at a better price in the blue.
Official data indicate that in July 3.9 million people bought US $ 740 million using the monthly quota of US $ 200. In August, according to market estimates, there would have been
5 million Argentines who demanded US $ 1,000 million.
The
versions about possible restrictions
on access to this solidarity dollar (retail price plus a 30% surcharge) may have fed this last month the appetite for currencies, although the president of the Central Bank, confident of a better mood in the markets thanks to the closure successful exchange, I assure you did not see the need for a "nut adjustment".
Even
fixed terms in dollars
showed a slight increase despite the minimal returns they offer.
They rose from US $ 4,251 million to US $ 4,318 million (US $ 67 million).
There are, on the other hand, the so-called
immobilized balances
, corresponding to expired fixed terms that were not deposited in the absence of an account.
During the quarantine,
they accumulated more than US $ 750 million
but today there are US $ 339 million and they continue to fall since a month ago there were US $ 370 million.
Dollar deposits, it is necessary to clarify, are today just a shadow of what they were before
the PASO, which started a stampede
that wiped out more than half of the stock of these deposits.
As they say in the market, whoever wanted to take the dollars has already taken them.
GB
