Main aspects
Within the framework of the regulatory modifications introduced in the last days of the previous month, in November, the BCRA bought USD 2,156 million in the spot exchange market, which was sold by the entities’ customers, USD 1,864 million, and by the entities, USD 292 million.
Companies in the real sector were net sellers of foreign currency for USD 2,149 million.
Within this group, the main sector with a net supply in historical terms, “Oilseeds and cereals”, had net sales of USD 2,303 million, more than doubling net revenues compared to the same period in 2018.
Companies in the “Real Non-Oilseeds and Cereals Sector” made net purchases of USD 154 million, mainly to make net payments for services and to pay off local loans in foreign currency, partially offset by net income from goods.
The “Individuals”, who basically demand foreign currency for hoarding and trips abroad, bought USD 374 million net (USD 101 million for banknotes and USD 273 million for the rest of their operations).
“Institutional and other investors,” both resident and non-resident, made net sales in the month of USD 282 million.
In addition to sales in the spot market, entities authorized to operate in foreign exchange made net forward purchases in foreign currency for USD 66 million.
The National Treasury made principal and interest payments on debt for USD 1,662 million, highlighting the disbursements for LETES for USD 650 million, payments to International Organizations for USD 600 million and interest payments on securities for USD 410 million. On the other hand, it recorded debt income of USD 171 million corresponding to International Organizations and new placements of LETES.
As a result of the aforementioned movements, gross international reserves increased by USD 512 million, ending November with a stock of USD 43,772 million.
