The dollar closed the week at 65 pesos which marked a rise of 1.66 pesos and a week accumulated increase of 4.27 pesos. The Central Bank once again squandered international reserves by offering $220 million in different auctions and through direct sales. Nearly $600 million were sacrificed in one day. The reserves ended at $43.5 billion which implied a daily fall of an impressive amount of $1.75 billion.
The main opposition coalition Frente de Todos (Everybody’s Front) closed their campaign on Thursday in the city of Mar del Plata ahead the elections on Sunday. Former chief of cabinet of Nestor Kirchner, accompanied by former President and Vicepresident candidate Cristina Kirchner, promised to take care “of poor people left by Macri”.
President Mauricio Macri closed his election campaign with an act in Córdoba city on Thursday, promising “a new period of growth and relief for all Argentines is coming” and asking not to fall “in listening to those who destroyed Argentina.”
Friday closes a chapter before Sunday’s general election. On Monday, a new chapter can bring some temporary calm. In the last 48 hours, deposit withdrawals went up to almost $500 million per day, which meant a decrease in reserves of around $250 million. It was the opposite effect to the promise of not affecting deposits in dollars if he is elected, made by the main opposition presidential candidate, Alberto Fernandez.