The government came to the cross of versions about the dollarization of the economy



BUENOS AIRES, 13 (NA) – "Argentina is not negotiating any dollarization or anything similar to the United States", confirmed Mauricio Macri's government sources to NA on Friday and refuted statements by an American official. "We deny it completely and completely," said a senior official who was consulted by this agency on the words of the director of the National Economic Council of the White House, Larry Kudlow, who hinted that negotiations were already in progress.

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BUENOS AIRES, 13 – Minister Dujovne appeared Thursday at the Council of Ministers during a rumor-denial of a possible dollarization of the economy (NA).

Kudlow said that convertibility "worked in the 1990s: it threw inflation and maintained prosperity" and suggested "that's what they need to do it again." Spokespersons of the Ministry of Finance have indicated that the misunderstandings that caused Kudlow's statements are "totally unjustified". For the official of the White House, the government of his country is "deeply involved" in what happens in Argentina.

In an interview with the Fox News Channel he said: "The only way out of Argentina's dilemma is to set up a monetary council, the peso is linked to the dollar." "There is no money creation unless you have a dollar reserve, it worked in the 1990s: it lowered inflation and maintained prosperity," he said.

Nervousness in the city

The nervousness of investors before versions of a possible convertibility in Argentina led to the dollar, which marked a new record of $ 40.22 on average, $ 1.14 higher than the previous day, in a wheel with an ongoing demand for foreign currency.

In this scenario, the central bank had a sales interest of only US $ 39 million on the foreign exchange market. According to the average of the monetary authority, the dollar ended at $ 38.43 for the purchase tip and $ 40.22 for the seller.

For example, it recorded an advance of $ 1.14 compared to Wednesday, equivalent to 2.9 percent, on the first day with an amount above $ 40.

At the counters of Banco Nación the US currency ended on Thursday for $ 40.10, while the highest price was shown at HSBC for $ 40.75.

This is the fourth consecutive increase in the ticket and the operators of the city of Buenos Aires indicated that the market saw a climate of uncertainty because of the rumors about a potential dollarization of the Argentine economy, which was then sharply refused by the Ministry of Finance. Hacienda.

They pointed out that the strong purchasing power took place in a context of limited private supply that the Central Bank decided not to balance.

In addition, they noted that market movements affected the results of the LETES enrollment, lower than expected, and also warned of the proximity of Lebac's maturity.


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