In January,
only 138,000 people
bought dollars for the allowed quota of 200 dollars per month,
72% less than in December and 86% less than a year ago,
according to data from the Central Bank.
In July 2020, the peak of 3,900,000 buyers was reached.
The thing is that with the devaluation of the peso, since December 13, 2023, in addition to the restrictions still in force,
the “savings dollar” became more expensive
(
today around $1,370
) than the blue dollar and other financial dollars because To the value of the official dollar ($860), taxes “for hoarding reasons” are added with a total surcharge of 60%: 30% PAIS tax and the remaining 30% as income tax collection.
On the other hand, US$ 4,947 million came in from exports and there were
import payments of US$ 1,068 million,
74
% below January 2023.
The BCRA Report highlights that payments for imports of goods in January were below FOB imports of goods, which totaled about US$ 4,372 million, “which would indicate
an increase in commercial debt
or a decrease in foreign assets.” ”.
However, the Report adds, "it is important to highlight that the BCRA awarded during the month of January the entire amount offered for BOPREAL series 1 for VN 5,000 million."
The BOPREAL is a BCRA bond for the
payment of outstanding debts with importers.
The BCRA Report indicates that in January international reserves increased by US$ 4,569 million, ending the month at a level of US$ 27,642 million.
There were net purchases by the BCRA in the exchange market for US$ 3,272 million,
net capital disbursements were received from the International Monetary Fund for US$ 2,708 million (2,035 million SDR) and
the foreign currency holdings of banks in the Central for US$ 917 million.
On the other hand, foreign currency came out of the net payments of interest and other financial debts of the General Government and BCRA for US$ 1,677 million and international organizations for US$ 474 million.
And the price in US dollars of the assets that make up the reserves decreased by US$ 166 million and by the net payments settled by the BCRA through the Local Currency Payment System by US$ 11 million.
These data explain that with dollar income from the settlement of exports of goods and services above the payment of imports for US$ 3,963 million, the current account of the exchange balance will register a surplus of just US$ 1,964 million in January.
The difference was mainly due to interest payments (US$ 2,000 million).
NE