The Central Bank changed its strategy and made the dollar drop a cent
City of Buenos Aires, September 21, 2011
The U.S. currency is at 4.23 pesos for sale, coming down a cent from its value yesterday. It was due to a change in tactics by the BCRA.
The entity that manages Mercedes Marco del Pont decided to change their approach to the rapid escalation of the dollar in the local markets.
Yesterday, the Central Bank stopped selling dollars in cash and began playing in the futures market. They ixed contracts maturing this month and the next at a price equal to or less than price wholesalers by.
The answer quickly became apparent when the dollar fell today to 4.23 pesos for the sale, the first decline in the month.