Wednesday, August 17

The wholesale dollar crossed the psychological barrier of $ 100 for the first time

Last week the central bank (BCRA) prohibited financial institutions from adding dollars to their holdings until the end of the month, with the intention of clearing up doubts about a potential devaluation after the legislative elections to be held on Sunday. “The measure aims at least until the end of the month to limit the banks’ foreign currency position and thus limit demand,” said Roberto Geretto, an economist at Fundcorp.

The greater limitations on the exchange market allowed the BCRA to buy almost US $ 210 million on Friday, a day in which the wholesale dollar recorded its first daily decline in more than a year.