Wednesday , January 20 2021

The dollar closed despite market tensions and changes in central bank interest rates

Government starts the week on the outcome of the G20 summit. Maurizio Macri gave several interviews in which he highlighted the role the country plays in gathering one of the most important meetings of heads of state in the world. There were dozens of bilateral agreements, the organization was planning, there was a final document, and it was even possible to bring Donald Trump and Shi Jingping together. These circumstances led the US currency to fall below $ 37 on Monday. Five days later the dollar parked over $ 38, a figure that could be higher given the tensions between China and the United States, and lower than prices which the central bank determines.

External tensions causing daily instability in the dollar are due to the mistrust that is being created between the US and China following the G20 leaders' meetings. There was a lot of noise in the reference markets for the validity of the next trade dispute despite the signing of the Buenos Aires Pact. However, during the week the currency rose by 69 cents, although this Friday fell against the previous day.

On the last day of the week, the dollar shut down 30 cents on Thursday and thus managed to successfully tackle the daily foreign trade attack. The currency is open for $ 38.54 for sale at the BCRA's average value and closed at $ 38.30 to 15. In the National Bank, the day ended at $ 36.50 for the purchase and $ 38.30 for sale. HSBC has the highest price of $ 38.90.

The dollar rises after the deep fall of the day after the G20. On Monday, weight is appreciated in a tune with other emerging currencies. The US currency fell the same day in Banco Nación for $ 1.20 to reach $ 37.40 for the sale. The decline was 3.23%, which returns the exchange rate at that time to values ​​close to the strike floor imposed by the BCRA.

Modification began when the enterprise managed by Guido Sandleris eliminated the minimum interest rate of 60%. The decision was related to the fall in inflation expectations over the coming months. One day before drilling that percentage, one peso stood up

When the Central Bank introduced measures to eliminate the 60% interest rate on Leliq, the dollar responded at a wholesale price with a slight increase of 5 cents and the retailer with almost 40. The company announced this Wednesday these instruments to 59.1%, the lowest value since the end of August.

Many worried about the worst, because by lowering the interest rate, the volume of investment could reach the dollar, which could increase its value much more. On Thursday, another pressure factor was added: the arrest of senior Chinese CEO Huawei in Canada once again put the United States and China in a "war" position. However, the dollar spent a difficult week and shut down this Friday.

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