It should be noted that within the FAE in April it consists of u $ s 1,277 million in accounts and other investments in foreign residents. FAE in banknotes grew by 59% compared to the previous month and the one with investments abroad – between 10% and 27%. Therefore, at a time when the market continues to discuss the true "fire power" of BCRA to face "what comes" after STEP, balance sheet data shows that the public and companies continue to appreciate the foreign currency as a refuge. This is, unlike what many underestimate when people as a whole, beyond their ability to save, perceive that the "dollar" becomes cheaper (the exchange rate rises, ie rises less than domestic inflation ). ) Take the opportunity to ask for dollars. Some even choose to travel abroad or spend more abroad. In the current context of high volatility and electoral uncertainty at the end of the day, this does not cease to be paradoxical for the government, which requires exchange rate stability so that inflation does not trigger, but at the same time This ultimately nourishes the purchase of dollars. So far, this bleeding is slight, but it is ruled out that as a key date of the STEP approach, it will accelerate. Needless to say, the results generate some concern in society and the market.
Then, the main balance sheet data:
Government records revenue from the payment of the fourth tranche of the IMF stand-by agreement for $ 10.830 million. Similarly, he made net debt payments for 4.8 billion dollars, mainly foreign currency accounts.
"Individuals" (residents) require foreign currency mainly to accumulate (u $ s070 million in April) and travel abroad (u $ s400 million).
Under institutional investors and others (investment funds, pension funds, hedge funds, insurance companies and other legal entities not included in the above classifications, both residents and non-residents) whose most significant transactions are due in wallet replacement (net outflow of U $ s0,030 million).
The number of tickets sold on the stock market amounted to 645,000, down from the previous month, after a three-month increase, but this meant an increase of 66% for the group of individuals selling the same type. 2018 (390,000 people).
On the other hand, 1090,000 people who purchased currency tickets in April represent an increase, both in the previous month and on an annual basis, respectively, by 18% and 30% respectively.
As usual, individual banknote transactions were concentrated at lower levels: in April, 63% of gross purchases and 71% of gross sales were made by individuals who operated for less than $ 10. Given this structure, gross per-capita sales were $ 941 and gross per-capita purchases were $ 1,588 while in the previous year they were $ 1497 and $ 2,626 ,
On the other hand, the movement of physical persons related to services amounted to USD 382 million. net costs, taking into account the costs of Travel and Other Payments, which recorded a net outflow of 397 million zł from 39%, in line with the reduction in emissions tourism reflected in international tourism statistics.
"Institutional and other investors," both residents and non-residents, made net purchases in the month for US $ 1,030 million, showing a $ 580 million decrease from the same month of the previous year. Operations in this sector are accounted for for the most part by the concepts of "external assets" for transactions carried out by residents and "portfolio investment" for those executed by non-residents.
Securities sale and purchase transactions on the secondary market amounted to a net outflow of 640 million dollars, similar to the previous month.
Finally, "Institutional Investors and Others" formed external assets for US $ 540 million, which was divided into 430 million US dollars. for transfers to own accounts abroad and USD 110 million for accumulation in banknotes. The latter continue to show high levels of purchases and gross sales that exceed 1,950 million US dollars.