The market again strengthens strongly with the government: although there are no major troubles to date, the banks have become increasingly difficult and have enforced & # 39; authorities to verify new increases in interest rates, which have already reached 50%.
Prior to the increase in the interest rate, the 44 cents exchange rate dropped in the wholesale market on Friday, to 39.22 pesos. And 24 cents fell into windows windows, where it was placed on an average of 40.30 pesos to sell.
Like every working day, the Central Bank held a 7-day Liquidity Letter (Leliq) auction that tries to take pesos out of the street to cool it up – and the economy in general – so that inflation falling.
The interest rate had been falling at quite fast speeds since the beginning of the year. But on Thursday, February 15, there was a cushion: Indec confirmed that January inflation was 2.9%, higher than expected by the market.
In the previous days, private consultants have already warned that inflation has escalated and will close February higher than in January.
Therefore, the demand for dollars was reimbursed by private investors and guardians, after official data dropped by 37% during January and with net sales companies to earn pesos that would enable them to test & # 39; r crisis.
This Friday the Central Bank awarded letters for 166,694 million at a maximum rate of 50.4998%, while the average court rate was 49.521%, market sources at this newspaper.
There is an increase of 5.6 percentage points in the benchmark interest rate of the minimum marked on last February 14.