The delay in the announcement of the much-promised "soybean dollar 3" further punished the reserves of the Central that, far from stopping the bleeding that had begun last month, sold US$ 259 million in the first
round of April
to contain the demands of the import sector.
The organism had already sold
US$1,900 million in March
and with today's red it raised its negative balance to
US$3,217 million
.
In the first round of the month, the parallel dollars move upwards, in a market that
awaits the delayed implementation of the "soybean dollar 3".
Since the opening,
the currency has risen in price on the stock market and the MEP dollar has surpassed a historical mark
and jumped above $400. Cash with settlement, meanwhile, came close to $410, although with the The day's run fell back to be closer to the $407 it opened with.
On the street,
the blue dollar was back $3 and
closed at $392.
According to market sources, the sales on Monday had to do with the payment of a YPF Negotiable Obligation, which demanded
US$ 286 million in the MULC
(Single and Free Exchange Market).
.
In addition to the meager income from agriculture due to the drought, energy and provincial demands were added last month, which had scheduled maturities with their creditors
.
On Friday, the Government had hinted that as of the first day of the month
a new differential exchange rate for agriculture would come into force,
which would serve as an incentive for soybean producers to liquidate their meager harvests this year, punished by the effect of drought.
But, during the weekend, the negotiations with the different sectors were delayed and the announcement would finally arrive this Wednesday.
Savers who buy dollars in the parallel market become impatient and the currency rises.
It is expected that, after having lost more than US$ 1.9 billion last month,
the Central Bank will maintain its selling momentum in the market,
at least until the fine print of the announcements is known.
PPI analysts pointed out: "Strong sales from the BCRA can be expected in this short week (Wednesday's depends on the time of the announcement) given that exports of oilseeds and cereals would leave the MULC offer practically deserted."
The organization chaired by Miguel Pesce sold an average of
US$ 100 million per day in March
.
Thus, the stock of net reserves, which rose at the end of the week due to the entry of a net flow from the IMF of US$2,671 million to US$2,977 million (without adjustment by IMF agreement) and US$2,164 million (based on to the agreement) will continue to suffer," they said on PPI.
"Only as of next Monday could we begin to measure the order of magnitude of the third soybean dollar
," they added.
In the financial market, dollar bonds move with increases of up to 2% and shares also move in positive territory and the S&P Merval jumps up to 2.8%.
"The calmer tone of the north gives space for a break
," said Gustavo Ber.
"This is happening in the midst of internal tugs by the main political forces, whose definitions are getting closer, and with the authorities still struggling to manage the imbalances in this transition stage, in particular seeking foreign currency through the new version of the 'agro dollar' and funds from international organizations, as well as possibly new measures to contain the greater exchange pressures," added the economist.
NS
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