The exchange pressures returned to Buenos Aires town. The dollar lasts 35 cents and stood at 39.16 pesos. In the last two days, it has improved 54 cents and is an increase of 95 cents from 3 December. Central President of the Central Bank, Guido Sandleris, can not reduce the level of 59%. This is because the banks stopped Leliq's renewal and created a case of over 122 billion pesos from mid-week. The international financial situation has not helped to focus on an exchange rate. The sections in the world showed a sharp fall. The Argentinean bond fell into foreign exchange again and threatened the danger despite the country (see separate).
The dollar showed an increase in the position in recent days. Today, 38.17 pesos, with an increase of 34 cents, had the largest exchange rate. Around 630 million dollars were run, in a market which showed an increase in purchasing pressures at the end of the day. In future markets, the same as 1165 million dollars was resolved, and 70 per cent agreed in December and January. The marks are 39.07 and 40.90 pesos, respectively. Leliq's financial authority offered 125,132 million pesos, with an average rate of 59.08 per cent and 38.16 per cent at a maximum. International securities fell 40 million and closed at 49,882.
The Central is in custody. You can not reduce the amount of interest in order to prevent Leliq stockpill (and increase in pesos in circulation). The problem is that this high-profile policy is causing a strong increase in the center's responsibilities in the future. The group led by Guido Sandleris will pay around 34 billion pesos an interest every month. This is the crossroads. If you reduce the rates, the banks do not update the Leliq and pesos are removed. If it is not the lowest, future promises are created by very high mental payments that will come faster after going on; issued out until Leliq is fulfilled.
In the market they are expressed concern about this financial claim and commenting that it was not successful in writing; Ensure that counterpartial programs were the same problem. The difference is between a declared interest rate of almost 60 per cent per annum and the expected 30% inflation rate for next year to allow us to look at imbalance economically in an amazing way. Given that the Central Bank has a very high level of certification of high levels (almost 30 per cent), the effects of its & domestic market is very important. The main factor is the circuit on activity: the levels of mind to allow loans for spending and casualties.
The lack of confidence in the sustainability of the cash program is one of the key elements to explain the ill-health of the dollar. Investors have broken up confidence and managing a short-term complaint. For the time, the exchange rate is closer to the level of the exchange rate band than it is to the top of the room. In part, it is the result of the use of economic equipment in future markets. But their home analysts do not; make a new run in the coming months.
A new process of exchange inconsistencies could be caused by political and economic reasons. Next year the process could stimulate a strong jump in a dollar money. Reservoirs tend to take shelter in foreign currency during the election years, which is strengthened when autumn results are unsure. The expectation of economic achievement is the other point that also creates dollarization movements. Reservoirs note that their & # 39; domestic market in the coming months and inflation will be at the top of the last three decades. This creates a breach in credit and investors' confidence and its; encouraging the purchase of foreign money.