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The official announcements do not reach and the dollar returns to approach the $ 40

September 3 2018 – 13:00
In entities, the currency exceeded the increase of $ 1 and sold at $ 39 in the Nation, $ 39 in Galicia, $ 39.49 in the French and $ 39.50 in the Santander, among others.

The official announcements to try to calm the markets seemed to have no effect and the dollar rises 55 cents to $ 38.55, while in several banks it is already around $ 39.50.

In entities, the currency exceeded the increase of $ 1 and sold at $ 39 in the Nation, $ 39 in Galicia, $ 39.49 in the French and $ 39.50 in the Santander, among others.

In the wholesaler, for its part, the currency increased $ 1.36, to $ 38.25. This market is where banks, large companies and the Central Bank operate, and whose contribution ends up affecting the retail channel, where the savers buy.

In addition, in a day without US operations (which leaves the local market without the Wall Street reference), the currency appreciated regionally, with increases in Brazil (1.78%), Mexico (0.81%). %), Colombia (0.49%), and Chile (0.23%).

According to analysts consulted by Clarín, the evolution of the dollar on Monday depends basically on two factors: the confidence that the official announcements arouse and the role that the Central Bank adopts before the exchange market.

On Monday, President Mauricio Macri admitted that the country is going through "a crisis" that "is not one more" and that it must "be the last". Without giving further details and after warning that the country is "in emergency", he advanced the reduction of ministries "to less than half" and the reestablishment of agricultural retentions, a tax that he described as "very bad".

"We have to face a basic problem, which is not to spend more than what we have. And I believe that in all of us the awareness has grown that we can not continue to spend more than we have, let alone coexist with corruption, "the president pointed out.

After the President, the Minister of Finance, Nicolás Dujovne, announced that Argentina aims to have a primary surplus in 2019: "We have decided to reach fiscal balance in 2019." The objective was to achieve it in 2020, but due to the crisis situation that the country is going through, it announced a series of measures to reach this goal next year.

Last week the price of the dollar went through the biggest turbulence since President Mauricio Macri's administration began. The dollar rose 25% in four days, hit a high of $ 42 on Thursday and on Friday it fell $ 1.78 and ended at $ 38.

According to analysts, the drop of the last day was due to a correction of the "overshooting" generated from the Government's mistakes in announcing the renegotiation with the IMF without giving details.

But the strategy of the Central was also effective: instead of going out to do a daily auction of dollars, as it had been doing for the last weeks, he made three auctions throughout the exchange day. It sold US $ 250 million of the US $ 675 million it was willing to sell and took the wholesale dollar to $ 36.88.

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