Monday , January 25 2021

Lead expired: Central Bank canceled the last letters for $ 68,000 million – 12/19/2018



Yesterday LeBeck's snowball dissolved. The last expiration was canceled $ 68,618 million Letters of Central Bank (LeBk), the financial tools of the great expansion in the Macri era As a result of this operation, part of the market share of pens went to dollar and made the currency It will grow 14 cents at retail level. The dollar was up 0.36% and closed at $ 39.38, while the wholesale wholesale price closed at $ 38.38, up 10 cents more than the previous day.

Thus the government scattered LeBay, the financial instrument – through which high interest rates – attract investors They will stop betting on the dollar In the first two years of Cambimos' management, which became a nightmare. In fact, there were many dollars to bet on Lebay in Peso.

2001/2002 Emergency Daughters are LeBeck They were designed during Mario Blazer's presidency in Central Bank to increase demand for peso. Beat the dollar at that time they were to offer 140% yield.

Since then the lab is on the market, They again took the central stage In December 2015, with the appointment of Central Head of Federico Storzenegger The condition of Stenzniger was to offer higher rates to absorb the dollar which was mainly due to public disclosure. That reserve has increased but the visible exchange rate is also backward.

They compute with GMA Capital that in 2016 and 2017, LeBeck Increase the actual yield by 10% points In which they gave fixed deadlines. Do this by granting approved investors $ 8 to 12% of annual profits. This year around Tortilla and continue with depreciation, who do not get out of business to carry on time They lost 28% in hard currency.

With inflation going up, central banks increased every month and the Lebay's issue increased. So, in March of this year The stock's share reached $ 1.3 billion, At that time equivalent to 64,000 million US dollars, more than the amount managed by the financial power arrangement. The maximum rate of the lab was renewed in 30 days, which increased "Supermorts", Refers to the day when Stzerniger went to meet the market demand. The state was established in two years 20,000 US dollars Paying LeBeck's Interests

In April of this year, the owners of the label wanted to go to the dollar – global uncertainty – and the exchange rate was fired, resulting in a sharp depreciation of the peso.

In the middle of the economic crisis and in negotiations with the IMF, Lebak's disarmament began with the advent of Louis Capitus, with the transfer of Sturzenegger to replace Centrase, and was compiled with the appointment of current, gido sandals. As part of disarmament and New financial strategy agreed with IMFSlowly the label was replaced by Liquid (Liquidity Letters). This is the central difference between these tools Liquid can be acquired only by financial institutionsThose who leave retailers out of the game

Today is the share of Lailick $ 659,000million, 48% monetary base and 25% term deposits.

Yesterday the increase of financial support with $ 68,618 million cancellation It was almost completely absorbed On Tuesday and Wednesday in the Lailick Tender. In those days work, the Central absorbs $ 19,131 million and $ 48,109 million respectively.


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