Capital flight increased to $ 27.320 million in 2018. Private sector is the net amount between the purchase and sale of foreign currency. This figure is a record in recent years, which is more than 2008 (23,098 million), and is about 6 points in total domestic production. Monthly peaks are recorded in the third quarter of the flight of capital, while robust depreciation and increase in rates make the foreign currency the medium of the private sector. But with an exchange rate of around 38 paisas, the relative reliability of December exchange, once again became interested in the dollar. The central bank's foreign exchange report said that last month there were 980 thousand customers in foreign currency, which was 100 thousand more customers than November. The number of people who were foreign currency sales declined to take advantage of exchange benefits. About 570 thousand people offered dollars in about 700 thousand people in November. The net purchases of dollars in December were 862 million, while in November it was half ($ 408 million), however in the same month last year it reached 2,700 million.
The strong flow of foreign currency from the economy was not due to private hoarding. Tourism was another source of external red in 2018. In the exchange balance of the entity in the charge of the Gido Sandals, it was made clear that last year there was a loss of 6800 million dollars for travel abroad and purchase of cards. Population in December, the tourism sector was red $ 313 million, which showed a 49 percent drop in year-on-year. This figure was lower than the average monthly deficit recorded in 2018. This lower output of dollars has been explained due to the exchange rate increase, which has increased the cost of tourism abroad. A clear example was seen in Brazil's travels. This summer, 70 percent of people traveling on the Brazilian coast shocked.
Not only from private customers in December Delalization In the central document, it was made clear that banks have increased the normal status of change (i.e., the hold of dollar assets) to $ 1597 million and is located at $ 6576 million. Banking companies, however, in the last months they received significant benefits with Lailick, they began to increase their wealth in foreign currency by the refugee factor. Investment funds also decided to make dollar-dollar part of their investments. December was the ninth straight month in which net capital inflow was recorded by portfolio investment. The net outflow for a disappointing position in Peso was 650 million.
Central Bank has registered an increase in international reserve in 2018. "The reserves rose by $ 14.613 million at the end of December 65.806 million." Despite the strong flow of capital and exchange rate, these figures are possible, thanks to the loans of Monetary Fund, Central Bank of China and other agencies. "December Swap money with China was $ 8,700 million", it specifies the entity. He added that "The third installment of standby credit of agreeing with the IMF was also registered for 7640 million. There were also $ 1000 million net income with other international organizations." Last year Central Bank lost a large number of reserves for intervention in the foreign exchange market. The entity was not successful and had to resort to additional currencies mainly from the IMF. Financial power can not buy really purchases throughout the year and the increase in reserves can only be explained by the increase in foreign currency.
A new monetary program, implemented from October, limits the ability of Central Bank to participate in the re-exchange market. This fund does not want to repeat the mistakes of 2018 and does not actually remove the financial power margin to buy and sell currency. Central, for example, can attempt to transfer the exchange rate to non-interference zones, only $ 50 million per day. You can not buy more than $ 1000 million per month. This is a very small figure when considering the total amount of purchase in the exchange market. If you have to sell something because I have to sell, then I can do up to 150 million every day, while last year there was a need to demand a market of 1500 million in one day.