Positive streak: the BCRA added $ 120 million to reserves

The central bank (BCRA) extended its buying streak and acquired $ 120 million this Wednesday, which increased to about 390 million dollars the total of Bookings repurchased on the last four wheels. In this way, so far this month he has registered a positive balance of 170 million dollars with his interventions.

The BCRA achieved its most significant purchase of the last three months (on July 13 it had acquired 210 million dollars) and was left with a third of the total of 362 million traded in the day.

The entity recovered its buying streak after tightening the stocks last week and temporarily prohibiting the advance payment of imports.

The BCRA continued its buying streak.

Through communication “A” 7375, the BCRA established last week that importers will only be able to pay for purchases made abroad after the goods are dispatched to the market. It was after having detected an “excess” outflow of dollars for advanced payments of imports, which reached 2.455 billion dollars in the first eight months of the year.

The rush to accelerate payments, as well as the delay in the liquidation of foreign currency, are phenomena that are repeated every time devaluation expectations are triggered.

The BCRA maintains a positive balance after the tightening of the stocks.

With the suspension of payment in advance, they calculate that the BCRA could avoid losing about $ 500 million per month of your Bookings by reducing the need to intervene with sales in the market.

In this way, the peso accumulates a devaluation of just 0.4% so far this month and 17.8% in the year, a percentage that represents half of the general inflation registered in the period.

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