Main aspects
In February, entities and their clients purchased USD 185 million and USD 75 million, respectively, which were covered by the BCRA’s net sales of USD 260 million. Real sector companies were net sellers of foreign currency for USD 639 million.
Within that group, the main sector with net supply in historical terms, “Oilseeds and cereals”, had net sales of USD 812 million, 44% below its net sales in February 2019. As in January, they continued to cancel external debt for advances and pre-financing after the extraordinary income of the last two months of the previous year.
Companies in the “Real Non-Oilseeds and Cereals Sector” made net purchases of USD 172 million, mainly for the cancellation of debt interest, and to make net payments for goods and services.
“Individuals”, which basically demand foreign currency for hoarding and trips abroad, bought USD 215 million net, basically for trips and other expenses with cards that fell 60% year-on-year.
“Institutional investors and others,” both resident and non-resident, made net sales in the month of USD 194 million.
The foreign exchange current account, which includes the net result of foreign exchange operations recorded as net exports of goods and services, and primary and secondary income in line with the definitions of the Balance of Payments, registered a surplus of USD 42 million.
The financial account of the “Non-Financial Private Sector” had a deficit of USD 154 million, basically as a result of net cancellations of financial debt, partially offset by income linked to direct investments.
The operations of the financial account of the “Financial Sector” resulted in a deficit of USD 91 million, mainly explained by the cancellations of financial loans and lines of credit.
The operations of the foreign exchange financial account of the General Government and BCRA in February were practically offset (net income of USD 2 million).
During February, international reserves fell by USD 126 million, ending the month with a stock of USD 44,791 million.
