The Blue Rose Again and the BCRA Buys Less and Less Dollars Despite the Strong Liquidation of the Agro
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4 Articles
The forward exchange rate of two pesos in the financial day while the purchases of foreign currency by the monetary authority register the lowest level of the per ode
The official exchange rate closed this Wednesday at $1,516 but reached $1,518. Despite the high liquidation of agriculture, private demand for foreign exchange limits BCRA’s ability to speed up purchases.
While the wholesale dollar remains practically stable at around $1,515, the parallel is back on track and remains close to its historical peaks. High private demand for foreign exchange absorbs much of the dollars contributed by the field and limits the Central Bank’s ability to accumulate reserves.
Much of the money from agriculture is being absorbed by imports, external payments and other private needs.
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