The Government defined how the last hours of the soybean dollar will be
The details are in a Resolution that was published in the Official Gazette, through which guidelines are set so that the operations carried out these days are reached by the disposition of the soybean dollar
Juan José Bahillo, Secretary of Agriculture.
Through Resolution 43/2022 published today in the Official Gazette, the Ministry of Agriculture established central aspects that must be taken into account for the last week of operation of the soybean dollar. So far, the mechanism, called the Export Increase Program and which promoted facilities to speed up the sale of soybeans, has generated, on the part of the producers, a commercialization of almost 13 million tons of the oilseed and 6,000 million dollars in foreign currency.
The return of the “super dollar”: why the pound and the euro fall to historical lows
The US currency reaches its highest value in two decades, while the markets adapt to the rise in Fed rates, combined with a rise in inflation and indebtedness in the central countries
The markets assimilate the new balance between the world’s major currencies.
Sterling slumped to a record low on Monday before recovering as traders waited to see whether the Bank of England would intervene to ease concerns that the new government’s economic plan would push British finances over the edge.
Dollars are not missing for Qatar but for regulatory populism
Despite the liquidation of soybean exports, the Government continues to maintain that there is a lack of foreign currency for production and that is why it deepens controls and differentiated exchange rates
The Central Bank of Cuba (BCC) reported that as of Thursday banks and exchange houses will begin to buy dollars at a price of 120 Cuban pesos per greenback, a rate similar to that of the black market, a mechanism aimed at capturing foreign currency ( AFP)
Dollars are not lacking, the reality is that they do not appear at the artificially low exchange rate established by the government for foreign trade.
Qatar dollar: if there are no changes, the BCRA would lose all the reserves it accumulated this month by the end of the year
In the coming months, the liquidation of agriculture will fall sharply, but what worries the most is the red of the tourist balance, which they will now try to soften
The tourist scale concentrates all eyes. (Reuters)
In the last week of the “soy dollar” the Central Bank took the opportunity to continue buying and accumulate reserves. Yesterday it was USD 344 million and the estimate is that the increase could reach around USD 4,300 million throughout September. However, the concern is what could happen in the last quarter, when agricultural settlements will fall substantially.
The free dollar fell to $286 in the trading session on Monday
The dollar traded yesterday with a cut of one peso in the parallel market, at $286 for sale. The “blue” currency maintains a loss of four pesos or 1.4% so far in September, while since the beginning of 2022 it has risen 78 pesos or 37.5%, about 20 points less than the inflation of the period.
With a wholesale dollar trading yesterday at $146.27, the exchange gap reached 95.5 percent.
For their part, the dollar’s stock market parities also experienced a drop of the order of three pesos, although the exchange rate gap in these segments still remains above 100 percent.
The dollar “counted with settlement” through the Global 30 bond (GD30C) is traded at $306.86, while the MEP dollar with the Bonar 30 (AL30D) is traded at 297.41 pesos.
Both the free dollar and stock prices fell on Monday’s session. (Robert Almeida)
Another strong purchase of the BCRA in the foreign exchange market: it kept USD 344 million
Settlements for USD 450.4 million for the “soybean dollar” entered the session. So far in September, the monetary entity has accumulated purchases for USD 3,600 million, a historical record
The Central Bank ended the first session of the week with net purchases of USD 344 million to accumulate a positive balance in September due to its foreign exchange intervention of some 3,600 million dollars.
Financial day: bonds fell sharply due to global pessimism and country risk was close to 2,600 points
The S&P Merval fell 3.4% and dollar bonds lost 3.8%. On Wall Street, Argentine stocks fell as much as 6%. The BCRA bought USD 344 million in the market thanks to the “soybean dollar”
International markets anticipate months of economic recession REUTERS/Brendan McDermid
Argentina’s financial markets showed sharp declines on Monday in line with a growing global fear of a recession, with increases in interest rates from the main central banks to attack the highest inflation in four decades.