July 1, 2019. Today, the BCRA purchased USD800 million from the National Treasury today.
This transaction was mainly due to the fact that most tenders made by the National Treasury in June were submitted in US dollars. As a consequence, the Treasury ended up holding an excess of dollars compared to the payments it must make in pesos.
Thus, the National Treasury honors its commitment on selling no more than 60 million dollars daily, and the monetary authority increases its available resources to be used in the face of potential disruptive volatility in the foreign exchange market.
This transaction does not go against the BCRA's commitment to zero growth in the monetary base.