The Central sold another US$110 million and accumulated a red of US$418 million this week

In the last session of an "extra short" week, and just on the launch day of the soybean dollar 3,

.

In this way, in the first three rounds of April, the agency has already disposed of

in a trend that worries the market.

This noon, Sergio Massa finally announced the "Export Increase Program", which will begin on April 8 and will be valid until May 31, and provides for an exchange rate of $300 to improve the incentive for the agricultural sectors.

The measure could have some effect on the reserves from Monday and seeks to alleviate in some way the impact of the drought and the dynamics of net sales in the wholesale segment.

Since the beginning of the year,

, with a rhythm and a volume that has not been seen in the last two decades, since the end of convertibility.

The situation has deepened since March: now it has been 23 rounds since the Central Bank has ended with a selling balance due to its intervention in the so-called "Single and Free Exchange Market" (MULC).

The photo contrasts even more with what was seen in the last two years, when in the first quarter the agency had managed to buy more than US$2.3 billion.

The market sees in Massa's latest measures a "new patch" to avoid a devaluation.

"Government estimates of accumulating around US$3.5 billion would represent the MULC deficit so far this year (approximately US$3.3 billion," said Aurum Valores.

In addition to selling reserves, this Wednesday the Central Bank

"In the short week for the Easter holidays, the wholesale exchange rate rose $2.21, well below the $3.23 adjustment of the previous week," said the exchange operator Gustavo Quintana at the end of the conference.

The economist Gustavo Ber affirmed: "Expectant, although still firm challenging the ~$400, the financial dollars are facing a continuous search for coverage in a scenario of high nominality of the economy, to which is added the usual uncertainty of a stage pre-electoral, and the risks of further monetary expansion associated precisely with the implementation of the "agro dollar".

look too

Gustavo Idígoras, on the agricultural dollar: "We made proposals to Massa and he promised to treat them"

Dollar agro: let's try something else