Main aspects
In April, the clients of entities bought US$ 932 million in the foreign exchange market, while the National Treasury and the group of authorized entities offered US$ 600 million and US$ 332 million, respectively. The exchange rate remained within the “Exchange Reference Zone” and the BCRA did not intervene in the spot exchange market.
Companies in the real sector were net sellers of foreign currency for about US$ 1,700 million.
Within this group, the main sector with net supply in historical terms, “Oilseeds and cereals”, had net sales of US$ 2,100 million, higher than the sector’s customs trade balance estimated at US$ 1,900 million.
Companies in the “Real Non-Oilseeds and Cereals Sector” made net purchases of US$ 350 million. The difference with respect to net purchases of US$ 1,850 million in April 2018 continued to be explained by the lower imports observed in recent months.
“Individuals”, which basically demand foreign currency for hoarding and trips abroad, bought US$ 1,500 million net, an amount that showed a decrease of 35% compared to purchases of US$ 2,250 million in April 2018.
“Institutional and other investors”, both residents and non-residents, made net purchases of around US$ 1,030 million, showing a decrease compared to the net purchases observed in April 2018 for about US$ 1,610 million.
In addition to sales in the spot market, the entities made net forward sales in foreign currency for US$ 230 million.
The General Government recorded the income from the disbursement of the fourth tranche of the stand-by agreement with the International Monetary Fund (IMF) for US$ 10,830 million. It also made net debt payments of about US$ 4,800 million, mainly foreign currency bills.
As a result of the aforementioned movements, gross international reserves increased by US$ 5,475 million during April, ending the month at a stock of US$ 71,663 million.
