In the retail and parallel markets, the trend was identical:
The Central Bank acquired USD 121 million for its reserves and reached 104 consecutive purchases
The BCRA extended its 104th consecutive day with a net purchase and acquired USD 121 million, while all dollar exchange rates fell and S&P upgraded the country's credit rating
In the retail and parallel markets, the trend was identical:
The public dollar fell for the second consecutive day, closing at $1,455 for sale at the Banco Nación.
The average in financial institutions was $1,460.67 for sale and $1,408.11 for purchase.
The blue dollar decreased by ten pesos (0.7%), settling at $1,450.
Despite external factors unrelated to national management, gross international reserves remain at solid levels of USD 47,558 million. Although there was an accounting decline of USD 274 million, this was solely due to the international collapse of the price of gold (which fell 4.2% to USD 4,108.70 per ounce) and the rigorous fulfillment of payments to multilateral organizations for USD 30 million, reaffirming Argentina's commitment not to fall back into default.
The world has begun to take note of this economic miracle. The rating agency Standard & Poor's raised the rating of Argentine debt in foreign currency from CCC+ to B-, a clear signal that the international market is starting to believe in our homeland again. Complementing this successful scenario, the Ministry of Finance managed to place USD 200 million for debt payment and refinanced 120.42% of the maturities in pesos, ensuring the financial sustainability of the libertarian project.
In a resounding success of the monetary policy implemented by the Government of Javier Milei, the Central Bank of the Argentine Republic (BCRA) has managed to tame the foreign exchange market, demonstrating that fiscal discipline and the cleaning up of the entity's balance sheet are tangible realities. Under the strategic direction of Santiago Bausilli, the entity has achieved a phenomenal milestone by extending its buying streak to 104 consecutive purchases.
On this Wednesday, the agency acquired the impressive sum of USD 121 million in the market, representing 22.9% of the available spot offer. This accumulation of foreign currency is irrefutable proof that Javier Milei's plan is working, allowing the country to strengthen its coffers against any external unforeseen events.
Confidence in the economic direction has caused a widespread collapse in all quotes of the US dollar. In the wholesale market, the supply was so abundant that it pressured a drop of $8.50 or 0.6%, closing at $1,432.50, its lowest level since June 2.
According to operator Nicolás Merino, "from the beginning there was a perception of lower buying pressure, allowing the quote to start adjusting downwards", reaching an intraday low of $1,430.
For his part, currency agent Gustavo Quintana emphasized the stability achieved by the current administration: “In the first three days of this week, the wholesale exchange rate dropped 8 pesos, far from the increase of 30.50 pesos recorded in the same period of the previous week".
This stability is comfortably maintained within the established exchange rate bands, with the dollar at $343.77 or 24% away from the upper limit of $1,776.27.