Rca Reciever Noises When Cold

Debt Relief Fund accelerates the outflow of private capital in February

Continued low dollar purchases by the Central Bank, which is a clear indicator that was accelerating the outflow of private capital in recent weeks.

Indeed, the monetary authority purchased only 7 million dollars in the foreign exchange market the second week of February, accentuating the downward trend observed since mid-January.

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The bulging trade balance ensures a steady flow of dollars into the economy, currently near the $ s1.200 million per month over the last three months. Broadly speaking, this implies that the economy entering weekly more than 300 million dollars.

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In a context where neither enter nor leave the economy to private capital, the Central Bank would buy close to that amount weekly if your intention is to keep the exchange rate. It was watching the last months of 2009, which not register capital outflow, the Central Bank purchased foreign exchange for about U.S. $ 300 million a week

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But since mid-January, the Central Bank started significantly reduce the purchase dollars in the foreign exchange market, allowing to provide a greater demand for private sector dollars, purchase subtracted BCRA margin to sustain the type of change.

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BCRA buy only $ s75 million the first half of February, means that capital flight increased significantly at a rate that far exceeds the $ s1.000 million monthly.

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The biggest uncertainty generated by the conflict of "Bicentennial Fund, but mostly the certainty that it delayed the imminent redemption of debt, leading to greater demand for dollars by the private sector, cutting the break of nearly 4 months without outflows.