Monday , June 27 2022

Dollar climbed pesos more than once a week and closed for $ 38.50


The week ended with a dollar jump. According to the average exchange rate of the Central Bank, the retail dollar reached $ 38.50, and on Thursday it reached $ 37.43. In the wholesale segment, it rose from $ 1.06 to $ 37.50.

The currency increased by four days, and when the exchange rate's all-time high reached 41.94, the highest level since the end of September was $ 1.50 a week. According to experts, the outflow of funds affected the investment in positions in local currency.

Why did the currency jump?

An operator said that the pressure on money is a product that "a bank from abroad receives the positions on the pesos".

Gustavo Quintana, analyst for PR Cambios, told El Cronista that "there is an excess of pesos taking a position like me, and that it is not a very liquid offer, and prices have turned into a strong rise". Following the tender of Lebac this week, the Central Bank turned into a $ 122,000 million plaza.

Analyst Fernando Izzo said in a statement to the same media that "foreign banks have made to deposit money on their own account, some investors and companies need to pay their dollars, send their accounts abroad, and unfortunately pay the price of dollars sent by the seller.

In addition, the US dollar gained value and had the largest weekly increase in a month, because investors returned to the bill after a sharp drop in oil prices. The dollar index rose at five in the last six days.

In the region, the currency rose by 1.2% in Colombia; 1% in Chile; 0.6% in Brazil; 0.4% in Mexico.

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