The reversal of expectations caused the dollar to experience its worst week of the year, when it depreciated by an average 2.5% compared to the pre-election closures.
The result helped lower the currency showed yesterday, after two days of rebound, falling from $ 17.36 to 17.27 and from $ 17.62 to 17.56 the wholesale and retail seller, respectively. But since they had closed at $ 17.73 and 17.99 the previous Friday (and only because its price had a cap on the BCRA interventions) that implies a loss of 46 and 43 cents in each segment, which is the largest for A week so far in 2017.
Dollar: by the “PASO effect”, had its worst week of the year
Dollar: by the “PASO effect”, had its worst week of the year. Photo: Archive
The market trend change yesterday, after two wheels of rising, was in sight in the first minutes of trading when the ticket opened trading at $ 17.30. Then it touched a maximum of $ 17.32 and fell to $ 17.25 before closing at the 17.27 already mentioned for the wholesale sale.
It was at the end of a day in which turnover grew to US $ 643 million (7% more than in the previous round) for Monday’s holiday and in which the offer prevailed because to the exporter settlements this time Added sales of funds that would be moving to pesos to auction for the 2020 Bond to be tendered between Tuesday and Wednesday. “A part of the income was to take placements in pesos”, corroborated the operator Gustavo Quintana.
The week opened with a new purchase from the BCRA to the Treasury for US $ 500 million (US $ 1 billion in August), which – by that means – recovered more than half of the reserves (US $ 1,830 million) invested for Limit the run against weight.
It was the fall of the dollar during this week, the worse of the year for the American currency.
It is the millions of dollars that the Central Bank bought in August, so it recovered part of the reserves invested in slowing the race.