Central Bank this Thursday buy for $426 million in the exchange market. The implementation of a temporary special exchange rate for soybean exports
Central Bank this Thursday buy for $426 million in the exchange market. The implementation of a temporary special exchange rate for soybean exports allowed the monetary authority to store net purchases in the foreign exchange market by boosting the supply of incoming foreign exchange. $866 million in the last three days, In addition to the impact on the recovery of reserves, this Thursday the Central Bank ordered measures Maintaining restrictions on the sale of foreign exchange to the import sector: The validity of monthly dollar quota for purchase of foreign exchange to pay for imports has been extended till December 31.
“The volume operated today was 623 million in the soybean dollar segment”, explained Gustavo Quintana, an analyst at PR Corredores de Cambio. Market sources said that since the forex settlement started, the monetary authority has already bought around $866 million, noting that 300 million were added on Tuesday and 140 million achieved on Wednesday.
The Central Bank’s board of directors, headed by Miguel Paes, until the end of the year banned access to foreign currency by those who apply it to payments for imports of goods under a “non-automatic license” and services. These restrictions were ordered in June via Communications A7532.
The said resolution refers to the delivery of a monthly quota of dollars to imports and finances the obligation 180 days (counted from remittances in the trade market) that imports processed through the Comprehensive Import Monitoring System (SIMI). There are. Category B. As such, it is about discouraging imports that are not considered essential to manage the foreign exchange shortfall, until the exchange balance is rebalanced.
financial dollars
The momentum of forex operations once again marked an oscillating trend for the US currency, with blue dollar The purchase was negotiated in the caves for about 275 pesos and 280 for sale (between two and four pesos below the previous day), and in prices around those that are operated through stock transactions 284.50 pesos (“counts with wine”) and 273 pesos (mep.)electronic payments market), with an increase of just over one peso over the previous day.
The gap remains high with respect to official prices, as the wholesale dollar was set at 141.13 pesos and the Banco Nacional slate at 147.50 pesos.
slept in rosario
The Rosario Stock Exchange (BCR) in its daily report on soy disposal confirmed that Between Monday and Wednesday, producers sold 3.1 million tonnes, Based on information provided by the electronic platform SIO-Granos on operations conducted before 7 September.
With regard to prices in the local market, there was a “slight decrease in the number of buyers” this Thursday. With immediate unloading for soybeans, the prices offered fell until they reached $67,000 a tonne, down $2,000 on Wednesday,
In the Chicago market, the bean ended the previous two days’ decline, up 0.25% with the September contract closing, taking the price to US$540.32 per tonne.
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