The Central Bank of the Argentine Republic has recorded a decrease in the amount of its interventions to stabilize the exchange market. According to the research team at Aurum Valores, during the second half of January, it is estimated that this intervention was reduced to about $340 million daily, which would represent approximately $34 million per day. Despite this decrease, it is noted that the pace of intervention remains high.
During the first half of January, the BCRA used around $619 million to contain the gap between the official dollar and financial dollars. Amid global tensions, the negotiated amount reached $113 million, experiencing daily fluctuations, although the official presence in the market is maintained to uphold exchange rate stability.
The decrease in volumes traded in the bond market is related to the lesser official presence, influenced by seasonal demand for pesos. Despite the decrease in intervention, analysts believe that the BCRA remains active to keep rates stable amid international financial volatility.
In recent days, it has been observed that the MEP dollar and cash with settlement have shown slight gains, finishing the day around $1192 and $1200 respectively. The informal market, which usually reflects variations in financial dollars, has maintained its price stable despite incentives in pesos and the improvement of the rate, which should favor trade.
Experts believe that the decrease in intervention is expected in a context where regional currencies strengthen against the dollar, although local uncertainty regarding negotiations with the IMF is also mentioned. The Central Bank has relaxed its interventions in financial dollars, which has impacted reserves, generating fluctuations according to the volume traded in the market.
