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The BCRA releases dollars for importers and there will be pressure on reserves


The first installment will begin to be paid from this Monday, since the first 30 days established by the organization for the first imports registered as of December 13 have passed.

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The Central Bank will begin releasing today Dollars for the importers, a decision that will put pressure on reserves. Since the inauguration of Javier Milei, the monetary authority has managed to purchase US$4.333 million, being the Friday January 12 the largest foreign currency purchase of the year with US$300 million.

In the first month of management, a series of news prompted the monetary authority to take this measure: it managed to accumulate reserves for US$4.3 billion, an agreement with the IMF was announced that would release a disbursement of US$4.7 billion and the Ministry of Economy achieved a good tender for the bond Bopreal.

The Central Bank had anticipated that it would begin release currency so that importers can face their debts and, for that, defined a staggered system of access to the exchange market: Payments will be formalized in four installments, each for 25% of the total amount requested.

The first installment will begin to be paid from this Monday, since the first 30 days established by the agency for the first imports registered as of December 13 have passed.

CENTRAL BANK 1500

The Central Bank had defined a staggered system of access to the exchange market

The Central Bank had defined a staggered system of access to the exchange market

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A report from the consultant Aurum Values evaluated that the accumulation of reserves in the number of days that the new Government has been “has its closest match with the soy dollar 1.”

“Although accumulation could be reduced by the authorization of the first installment of import payments (25%), if the high levels of exports estimated for grains materialize, we are confident that the absorption of foreign currency can continue to grow,” he added.

The gross reserves of the Central Bank reached US$23,411 million last Friday, according to official information.

Dollar: what is expected after this measure

Since the Government took office, the release of foreign currency for the payment of imports was carried out in “drips” and that was what helped the Central Bank to rebuild reserves.

This was achieved by the combination of two factors: the import brake and the reactivation of exports in the agricultural sector that takes advantage of the exchange advantage after the devaluation and the reduction of the gap.

The expectation is that, in the second half of January, the factors that are now working in favor of the accumulation of reserves, could be quickly neutralized. That is, with the addition of new importers who have access to foreign currency, demand will increase, and The BCRA will no longer have as much margin to rebuild your cash in dollars. But, in addition, there is the expectation that the agricultural export rate may slow down.





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