Drilling reserves 43,000 million USD due to BCRA sales and lower gold

On the one hand, this decline was countered by the fact that BCRA had to sell foreign currency for the first time in five days so that the official exchange rate remained within the planned range.

The entity led by Miguel Angel Pesci cut $62 million and in September already lost more than $750 million., a number that lights up the warning lights but is still far from the $1.6 billion the bank sold in September of last year.

BCRA sources denied rumors of a possible tightening of inventories and emphasized that the dollar selling was responding to record import demand, as observed several weeks ago.

On the other hand, the loss of reserves was also affected by The global value of gold is declining as a result of the rise in the value of the dollar in the world. The metal lost 0.7 percent to $1,722.50 an ounce, after hitting its lowest level since August 10 at $1,720.49 earlier.

Seen as an active safe haven against periods of uncertainty, the dollar rose to a maximum of 10-1/2 months on Wednesday against its peers, spurred by heightened expectations of a stimulus cut from the Federal Reserve at the end of this year and interest rate hikes. Of interest in the United States, perhaps in the last tranche of 2022.

It should be noted that prior to the entry of $4,334 million in IMF Special Drawing Rights, BBK reserves were $42,048 million.

In this context, the coffers of the monetary authority are about to return to this level, although it should also be noted that in recent days they have incurred significant losses due to the payment of 1,885 million US dollars to the International Monetary Fund, which were paid through resources. From the same SDR.

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Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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