The Central Bank continues to add dollars from agricultural exporters, and at a good pace despite the tightening of the stocks for the sector. With business in the cash segment for about USD 635.2 million, of which USD 355.6 million entered the $200 soybean dollar, the monetary entity ended with a net buying balance of 243 million of dollars.
On the last twelve sessions operating since last September 6, settlements for the soybean dollar scheme reached USD 4,586 millionmore than 90% of what was planned by the Government for the course of the month, about 5,000 million dollars.
Since the arrival of thesoybean dollar”the BCRA was left with a positive balance in said period of USD 2,792 millionencouraged by the implementation of this temporary exchange rate for agricultural exports.
During September the Central accumulates net purchases for 2,799 million of dollars. If this balance is sustained in favor of more than almost USD 2,800 in September, it will be a historic month with the higher net purchases for the BCRA in the foreign exchange marketabove the highs of December 2011 (USD 2,493 million) and April 2014 (USD 2,446 million).
The gross international reserves of the BCRA reached USD 38,331 million on Monday, the highest stock since last July 27
A lack of seven operating wheels September, in which the “soybean dollar” will remain in force, there are some doubts about the possibility of continuing to accumulate reservessince an abrupt decrease in settlements is already discounted due to the change in the rules of the game ordered by the Central Bank.
Likewise, the monetary entity faces a 2022 with net purchases of USD 2,837 million, an amount that represents 44.2% of the net balance in favor in the same period of last year, of about USD 6,416 million as of September 20, 2021.
Foreign exchange market operators continue to assimilate the BCRA provision by which economic agents that have sold soybeans under the Export Increase Program cannot access the market to purchase foreign currency or carry out operations with securities with settlement in foreign currency. foreign. Natural or human persons were exempted from this new norm.
“The market fears that this measure announced and implemented by the Central will have an impact on the flow of sales from producers, collectors, and cooperatives to exporters”, considered the experts from Research for Traders.
While a disbursement of USD 3,885 million is expected to enter when it is enabled by the board of the International Monetary Fund in the coming weeks, the Government will begin to pay a new maturity to the organism. A large maturity corresponding to September for USD 2,622 million will be paid, which will be divided into USD 895 million today and the rest, about USD 1,727 million, on Thursday.
For its part, the investment fund Bainbridge asked the US Justice to seizure of an Argentine property in Washington for bonuses that he did not collect. The discussion revolves around the diplomatic or commercial nature of that property: if the Justice determined that it belongs to the first group, it could not be seized, but otherwise the bondholder’s request could be granted.
Bainbridge Capital initiated the trial for securities in default not exchanged in 2005 and 2010. It also did not accept the renegotiation carried out by the government of Alberto Fernández with private creditors led by Minister Martín Guzmán in 2020. After that exchange, Argentina agreed to pay him, but did not comply Other funds, such as Attestor, Titan, TIG, also seek to seize assets as a result of the Argentine debt.