At this time of our homeland we have full weeks in the very complicated financial and spend more and more frequently. From April to today we had 3 of them: the 1st was from April 7 to 11, the 2nd took the week cut from July 7 to 11 and the latter that has just ended that it passed from August 25 to 29. In which we had reservation exits of the BCRA, previously called intervention, for US $ 720 million with a reference interest rate of 39.63% in April; While in July we had reservation losses for US $ 2687 and rates somewhat less than 38.19% while in this last week the drop in reservations is given by a total of US $ 1,533 million and 86% reference interest rate.
The most complicated thing about all this is that the complex weeks occur more and more frequently and quickly and even its effects are increasingly devastating than the previous ones. This establishes that the exchange rate moves unfailingly towards the current upper band established in the last agreement signed by the current national officials last April generating a shift of the value of the exchange rate that is neither more nor less than devaluation of the weight and transfer to prices that derive in inflation in the consumer prices index since in July there were price lists with increases in the order of 7 to 9% bringing them to levels close to 2% and that they finished effectively in early August providing that the value of this month significantly pass that value to which July 2025 approached.
In the last week, although a torniquete/monetary applied directly to the banks on the level of minimum lace and monetary positions in dollars was applied, we had a brief exchange rate above all on Friday when the values went to the low and suddenly change the tide and in the space of 14.15 to 15 hours $ 1,360 The officer and those of the Stock Exchange (MEP and CCL), after interregno dedicated themselves to intervene in the futures segment and placed many pesos in January and May 2026 without any success since they continued to rise.
Concomitantly with this the country risk rose from 753 to 837 during the last week and new product price lists began to arrive with the 1st need with rises of 7 to 8 %. Within the banks to the banks, the rise of 3.5% of lace was announced that did a need to incorporate an additional $ 5 BM into the BCRA, so the monetary base extended to today that generates is a total of $ 145 Bm against the $ 30bm that the Government received on 12/10/2023; To put it in another way, those that were and the official exchange rate printed for 5 times (because it is taken to buy supplies abroad) to that date was $ 360. If we have to multiply those $ 360 x 5 the exchange rate value to today should be no less than $ 1,800 per dollar; The result of that derives in the problems that the population has today.
Every time this occurs, sequels are generated in the pockets of the town that have more and more month at the end of the salary and no longer meets its basic needs because despite having lowered inflation in nominal values, salary increases do not rise in the same proportion and that generates that every month buy less than the previous month (loss of purchasing power).
Although from April 14 to today a total greater than US $ 21 mm between the more than US $ 8 mm of the FGS + the repo of US $ 2 mm of international banks + u $ s 11 mm (of the IMF) were won and we continue to live with rented dollars because we do not really generate them since our economy does not produce them with the increase of exports and the rigi only stayed in a lot of ads without US This administration is not credible because of the beginning of the paragraph. In addition to Friday, the BCRA communicated that since last 14/4, Cercad e $ 6.5 mm were used to intervene in the future dollar market over the US $ 8.5 mm that it has available for it.
