The dollar is below $ 28 for the first time in five days

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The dollar fell again this Friday and was below $ 28 for the first time in five days. Thus, it accumulates two days of setback, since on Thursday it had yielded 27 cents, to close at $ 28.19.

The currency traded at $ 27.80 at Banco Nación and in the Province and was also below $ 28 at the French and Santander.

Meanwhile, in the wholesale market – where banks and large companies operate – it was down 40 cents, to $ 27.09. This market marks the path that the retailer will follow. The financial entities expect this Friday the second auction of US $ 100 million from the Central Bank.

Thursday was the first day after Argentina’s rise to “emerging market” and the approval of the Monetary Fund super-loan.

The dollar was more calm this week, after the change of head of the Central Bank. Luis Caputo started at the monetary entity last Friday. That day, the currency touched a record of $ 28.84, but on Monday it dropped to $ 28.41 and on Tuesday rose just a few cents to $ 28.46.

The former finance minister also began currency auctions on Monday. That day he placed US $ 175 million. But the next day he declared the auction deserted. The tenders followed on Thursday but, this time, with IMF funds. From now on, US $ 100 million will be placed every day at 13.

There will be 75 days of tenders, if the original amount is maintained, which could change if it were necessary to inject more liquidity, said the Treasury.

This Friday may be reflected in the reserves the income of the dollars of the Fund. On Thursday they closed at US $ 48,475 million, with an increase of US $ 374 million.

Of the total amount of US $ 15,000 million, half is to strengthen the assets of the BCRA and the rest to cover the fiscal deficit.