The Central Bank already offers to buy dollars at a rate of $1,000

The Central Bank is preparing to buy dollars at a rate of $1000. Meanwhile, the Government of Javier Milei highlights the drop in the official exchange rate, the entity led by Santiago Bausili formalized its intention to purchase in the financial market at that value.

This was pointed out by market operators, who detected the placement of a purchase order (bid) by the BCRA, which reinforces the economic team's stance: purchases of foreign currency will only resume when the wholesale exchange rate hits the floor of the established band.

"The BCRA already placed the bid at 1000," published this Monday by economist Gabriel Caamaño, head of the consultancy Outlier, through his account on X. According to market sources, the order was for up to 500 million dollars.

With this measure, the monetary authority confirms what was expressed by President Javier Milei and the Minister of Economy, Luis "Toto" Caputo, after the lifting of the restrictions: the Central will not intervene in the purchase of reserves while the rate remains within the floating band established between $1000 and $1400. The official goal is for the currency price to converge toward the lower limit of that range.

On the first day of the week, the official exchange rate falls by 6.4% and stands at $1108, similar to the value before the lifting of the restrictions. At the same time, the MEP dollar is quoted at $1093 (with a 6% drop) and the cash with liquidation (CCL) is at $1102.

Meanwhile, the fall of the official dollar and free quotes was celebrated by the Minister of Economy, Luis "Toto" Caputo. "We should expect a flood of colleagues and journalists apologizing for telling people that we had devalued, but it surely won't happen," he wrote on his account on X, highlighting that the currency had dropped to $1065 at the start of the session.

The new exchange scheme was implemented after the signing of the agreement with the International Monetary Fund (IMF), which involved the elimination of the 1% monthly crawling peg. Since Monday the 14th, a non-intervention band for the Central Bank has been in effect, with a floor of $1000 and a ceiling of $1400. Within that range, the monetary authority doesn't participate in the buying and selling of foreign currency. Additionally, it was determined that this band will have a daily adjustment: the ceiling will increase at a rate of 1% monthly, while the floor will decrease at the same rate.