Jumps in the FX Market, Easy and Difficult Solutions

Weekly  Reports

 

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Jumps in the FX Market, Easy and Difficult Solutions

Fourth week
April 2023

Last week was a roller coaster. After the previous week's lukewarm rate hike and a lot of political uncertainty, the dollar reached almost 500 pesos. The Central Bank finally stood for itself, came out of its tepidity, and hit the policy rate with a 10-point kick, to which are added the 3 points from the previous week. In addition, they had to invest reserves to do what the IMF prohibits, which is to intervene in the blue-chip swap market.