The dollar rose almost a peso: it approaches 30
At the beginning of the exchange day, the dollar rises almost a peso and is above 29. In some banks and exchange houses, the American currency scales to almost 30 pesos. Uncertainty about the direction of the economy and external factors such as the tension between China and the United States, the new sanctions that US imperialism imposed on Russia and Turkey increased the country risk in the "emerging countries" and boosted the rise of the currency .
The scandal of the notebooks impacted because investors are turning to the dollar for coverage before the effects it will have on the local economy that is already experiencing a crisis.
Record of the Dollar: in 1 day it raised almost $ 1
It also puts pressure on the exchange market to reduce the amount auctioned daily by the Central Bank from the agreement with the Fund. Of the initial 100 million dollars, the volume to be auctioned was reduced to 75 million dollars, between last Wednesday and Friday, to the current 50 million dollars.
The exchange market yesterday suffered the impact of capital outflow from the "emerging countries" with Turkey and Russia leading, today the same pressure on the dollar is repeated.
Financial analyst Christian Buteler told Cronista that "when you have low defenses what for others is a cold, for you it can be pneumonia" and suggested that "obviously" the government "should intervene", since it considers that "it should avoid this volatility in the exchange rate and more when it occurs with small volume ".
The monetary rigidity of Caputo and the Central Bank with high rates and dollarization of liabilities to disarm the Lebac bomb contained the triggered dollar for a period, but did not eliminate the causes of the exchange rate run. The leap of the currency again exposes the economic and political fragility of the Government. An economy in crisis that can be aggravated with the Gate Notebooks.