{"id":10253,"date":"2025-11-18T17:11:15","date_gmt":"2025-11-18T20:11:15","guid":{"rendered":"https:\/\/hanin.org.ar\/?p=10253"},"modified":"2025-11-18T17:15:06","modified_gmt":"2025-11-18T20:15:06","slug":"%ea%b2%bd%ec%a0%9c-%ec%86%8c%ec%8b%9d-%ec%8b%9c%ec%9e%a5%ec%9d%b4-%ea%b8%b0%eb%8b%a4%eb%a6%ac%eb%8d%98-%ec%86%8c%ec%8b%9d","status":"publish","type":"post","link":"https:\/\/hanin.org.ar\/?p=10253","title":{"rendered":"[\uacbd\uc81c \uc18c\uc2dd] \uc2dc\uc7a5\uc774 \uae30\ub2e4\ub9ac\ub358 \uc18c\uc2dd"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"300\" height=\"168\" src=\"https:\/\/hanin.org.ar\/wp-content\/uploads\/2025\/11\/download-15.jpg\" alt=\"\" class=\"wp-image-10254\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\uc2dc\uc7a5\uc774 \uae30\ub2e4\ub9ac\ub358 \uc2e0\ud638\uac00 \ub3c4\ucc29\ud588\uc744\uc9c0\ub3c4 \ubaa8\ub978\ub2e4: \uad6d\uace0(Tesoro Nacional)\uac00 \ub2ec\ub7ec\ub97c \ub9e4\uc785\ud588\ub2e4.<br>\uc9c0\ub09c \uc218\uc694\uc77c, \uc911\uc559\uc740\ud589(BCRA)\uc5d0 \uc788\ub294 \uad6d\uace0\uc758 \uc678\ud654 \uc608\uae08\uc740 2,000\ub9cc \ub2ec\ub7ec \uc99d\uac00\ud588\uace0, \ubc18\ub300\ub85c \ud398\uc18c \uc608\uae08\uc740 2,400\ub9cc \ub2ec\ub7ec \uac10\uc18c\ud588\ub2e4. \uc774\ub294 \ub2ec\ub7ec \ub9e4\uc785\uacfc \uc77c\uce58\ud558\ub294 \uc2e0\ud638\uc774\ub2e4.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\uc778\ud2b8\ub77c\ub370\uc774(\ud558\ub8e8 \uc911) \ubc18\ub4f1\uc774 1,395\ud398\uc18c\uc5d0\uc11c \uc2dc\uc791\ub41c \uc810, \uadf8\ub9ac\uace0 \uac70\ub798 \uaddc\ubaa8\uc758 \ud06c\uae30 \ub4f1\uc744 \uace0\ub824\ud560 \ub54c, \uc774\ubc88 \ub2ec\ub7ec \ub9e4\uc785\uc740 \uc911\uc559\uc740\ud589(BCRA)\uc744 \ud1b5\ud574\uc11c\uac00 \uc544\ub2c8\ub77c, \uc9c1\uc811 MLC(\uc790\uc720\ud658\uc728 \uc2dc\uc7a5, Mercado Libre de Cambios)\uc5d0\uc11c \uc774\ub8e8\uc5b4\uc9c4 \uac83\uc73c\ub85c \ubcf4\uc778\ub2e4\ub294 \ud574\uc11d\uc774 \uac15\ud654\ub418\uace0 \uc788\ub2e4.<br>\uc774\ub294 \uc774\uc804 \uc0ac\ub840\ub4e4\uacfc \ub2e4\ub974\ub2e4. \uc608\ub97c \ub4e4\uc5b4 \uc774\ubc88 \ub2ec\uc5d0\ub294 IMF\uc5d0 \uc9c0\ubd88\ud558\uae30 \uc704\ud574 9\uc5b5 600\ub9cc \ub2ec\ub7ec, \uc9c0\ub09c 10\uc6d4\uc5d0\ub294 \uad6d\uc81c\uae30\uad6c\ub4e4\uc5d0 \uc9c0\ubd88\ud558\uae30 \uc704\ud574 1\uc5b5 2,300\ub9cc \ub2ec\ub7ec\ub97c BCRA\ub97c \ud1b5\ud574 \ub9e4\uc785\ud55c \uc801\uc774 \uc788\ub2e4.<br>\ub2e4\ub9cc \u201c\uc774 \ubd80\ubd84\uc740 \ud1b5\ud654 \ub370\uc774\ud130\uac00 \ub098\uc624\uba74 \ud655\uc778\ub420 \uac83\u201d\uc774\ub77c\uace0 PPI \uce21\uc740 \uc124\uba85\ud588\ub2e4.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u25b6 BCRA \uc678\ud658\ubcf4\uc720\uc561<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\ub2ec\ub7ec \ub9e4\uc785\uc774 \uc55e\uc73c\ub85c \ubc18\ubcf5\uc801\uc774\uac70\ub098, \ub610\ub294 IMF\uac00 \uc81c\uc548\ud55c \uac83\ucc98\ub7fc <strong>\ub9e4\uc77c \uc77c\uc815\ud558\uac8c \uc21c\ub9e4\uc218\ud558\ub294 \ud750\ub984(daily path)<\/strong>\ub85c \uc774\uc5b4\uc9c8 \uac83\uc774\ub77c\uace0 \uae30\ub300\ud558\ub294 \uc0ac\ub78c\ub4e4\ub3c4 \uc788\uc9c0\ub9cc, BCRA \ucd1d\uc7ac \uc0b0\ud2f0\uc544\uace0 \ubc14\uc6b0\uc2e4\ub9ac(Santiago Bausili)\ub294 \uae08\uc694\uc77c\uc5d0 \uc774\ub7ec\ud55c \uae30\ub300\ub97c \uc2dd\ud614\ub2e4.<br>\uadf8\ub294 \uc678\ud658\ubcf4\uc720\uc561 \ucd95\uc801\uc5d0 \ub300\ud574 \uba85\uc2dc\uc801\uc778 \ubaa9\ud45c \uc18d\ub3c4\ub97c \uc815\ud558\ub294 \uac83\uc740 \ud604\uc7ac \uc0c1\ud669\uc5d0\uc11c\ub294 \ucd5c\uc120\uc758 \uc120\ud0dd\uc774 \uc544\ub2c8\uba70, \ube44\ub85d \ubcf4\uc720\uc561 \ucd95\uc801\uc774 \ubaa9\ud45c\ub77c\uace0 \ud558\ub354\ub77c\ub3c4 \ud398\uc18c\uc5d0 \ub300\ud55c \uc218\uc694\uac00 \ud5c8\uc6a9\ud560 \ub54c\ub9cc \uc804\uc9c4\ud560 \uac83\uc774\ub77c\uace0 \uac15\uc870\ud588\ub2e4.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u25b6 \ucc44\uad8c \ubc1c\ud589 \uad00\ub828<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201c\uc9c0\uae08\uc740 \uad6d\uc81c\uc2dc\uc7a5\uc5d0 \ubc1c\ud589\ub418\ub294 \uae30\uc5c5 \ucc44\uad8c\ub4e4\uc774 7.5%~8.5%\uc758 \ub9e4\ub825\uc801\uc778 \uc218\uc775\ub960\uc744 \uc81c\uacf5\ud558\uace0 \uc788\ub294 \uc0c1\ud669\uc774\uba70, \uc774\ub4e4 \ucc44\uad8c\uc744 \uc778\uc218\ud558\uae30 \uc704\ud55c D\u00f3lar cable(\ud574\uc678\uc1a1\uae08\ud658\uc728) \uc218\uc694\uac00 \uc99d\uac00\ud558\uace0 \uc788\ub294 \uac83\uc73c\ub85c \ubcf4\uc778\ub2e4.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201c\ub2e4\uc2dc \ub9d0\ud574, \ub2ec\ub7ec\ub294 Onshore(\uad6d\ub0b4)\uc5d0\uc11c Offshore(\ud574\uc678)\ub85c \uc774\ub3d9\ud574\uc57c \ud558\uace0, \uadf8 \uacfc\uc815\uc5d0\uc11c MEP \ud658\uc728\uacfc CCL(\uc678\ud654\uc99d\uad8c \ub9e4\ub3c4 \ud658\uc728) \uac04\uc758 \uc2a4\ud504\ub808\ub4dc\uac00 \ud655\ub300\ub418\uace0 \uc788\uc73c\uba70, \ub3d9\uc2dc\uc5d0 **CCL\uacfc \ub3c4\ub9e4 \ud658\uc728 \uc0ac\uc774\uc758 \uc2a4\ud504\ub808\ub4dc \uc5ed\uc2dc \ucee4\uc9c0\uace0 \uc788\ub2e4\u201d\uace0 PPI(\uc0dd\uc0b0\uc790 \ubb3c\uac00\uc9c0\uc218)\ub294 \uacb0\ub860\uc9c0\uc5c8\ub2e4.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>AI \ubc88\uc5ed\uc744 \uad50\uc815\ud574\uc11c \uc62c\ub9bd\ub2c8\ub2e4.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\uc2dc\uc7a5\uc774 \uae30\ub2e4\ub9ac\ub358 \uc2e0\ud638\uac00 \ub3c4\ucc29\ud588\uc744\uc9c0\ub3c4 \ubaa8\ub978\ub2e4: \uad6d\uace0(Tesoro Nacional)\uac00 \ub2ec\ub7ec\ub97c \ub9e4\uc785\ud588\ub2e4.\uc9c0\ub09c \uc218\uc694\uc77c, \uc911\uc559\uc740\ud589(BCRA)\uc5d0 \uc788\ub294 \uad6d\uace0\uc758 \uc678\ud654 \uc608\uae08\uc740 2,000\ub9cc \ub2ec\ub7ec \uc99d\uac00\ud588\uace0, \ubc18\ub300\ub85c \ud398\uc18c \uc608\uae08\uc740 2,400\ub9cc \ub2ec\ub7ec \uac10\uc18c\ud588\ub2e4. \uc774\ub294 \ub2ec\ub7ec \ub9e4\uc785\uacfc \uc77c\uce58\ud558\ub294 \uc2e0\ud638\uc774\ub2e4. \uc778\ud2b8\ub77c\ub370\uc774(\ud558\ub8e8 \uc911) \ubc18\ub4f1\uc774 1,395\ud398\uc18c\uc5d0\uc11c \uc2dc\uc791\ub41c \uc810, \uadf8\ub9ac\uace0 \uac70\ub798 \uaddc\ubaa8\uc758 \ud06c\uae30 \ub4f1\uc744 \uace0\ub824\ud560 \ub54c, \uc774\ubc88 \ub2ec\ub7ec \ub9e4\uc785\uc740 \uc911\uc559\uc740\ud589(BCRA)\uc744 \ud1b5\ud574\uc11c\uac00 \uc544\ub2c8\ub77c, \uc9c1\uc811 MLC(\uc790\uc720\ud658\uc728 \uc2dc\uc7a5, Mercado Libre de Cambios)\uc5d0\uc11c \uc774\ub8e8\uc5b4\uc9c4 \uac83\uc73c\ub85c \ubcf4\uc778\ub2e4\ub294 \ud574\uc11d\uc774 \uac15\ud654\ub418\uace0 \uc788\ub2e4.\uc774\ub294 \uc774\uc804 \uc0ac\ub840\ub4e4\uacfc \ub2e4\ub974\ub2e4. \uc608\ub97c \ub4e4\uc5b4 \uc774\ubc88 \ub2ec\uc5d0\ub294 IMF\uc5d0 \uc9c0\ubd88\ud558\uae30 \uc704\ud574 9\uc5b5 600\ub9cc \ub2ec\ub7ec, \uc9c0\ub09c 10\uc6d4\uc5d0\ub294 \uad6d\uc81c\uae30\uad6c\ub4e4\uc5d0 \uc9c0\ubd88\ud558\uae30 \uc704\ud574 1\uc5b5 2,300\ub9cc \ub2ec\ub7ec\ub97c BCRA\ub97c \ud1b5\ud574 \ub9e4\uc785\ud55c \uc801\uc774 \uc788\ub2e4.\ub2e4\ub9cc \u201c\uc774 \ubd80\ubd84\uc740 \ud1b5\ud654 \ub370\uc774\ud130\uac00 \ub098\uc624\uba74 \ud655\uc778\ub420 \uac83\u201d\uc774\ub77c\uace0 PPI \uce21\uc740 \uc124\uba85\ud588\ub2e4. \u25b6 BCRA \uc678\ud658\ubcf4\uc720\uc561 \ub2ec\ub7ec \ub9e4\uc785\uc774 \uc55e\uc73c\ub85c \ubc18\ubcf5\uc801\uc774\uac70\ub098, \ub610\ub294 IMF\uac00 \uc81c\uc548\ud55c \uac83\ucc98\ub7fc \ub9e4\uc77c \uc77c\uc815\ud558\uac8c \uc21c\ub9e4\uc218\ud558\ub294 \ud750\ub984(daily path)\ub85c \uc774\uc5b4\uc9c8 \uac83\uc774\ub77c\uace0 \uae30\ub300\ud558\ub294 \uc0ac\ub78c\ub4e4\ub3c4 \uc788\uc9c0\ub9cc, BCRA \ucd1d\uc7ac \uc0b0\ud2f0\uc544\uace0 \ubc14\uc6b0\uc2e4\ub9ac(Santiago Bausili)\ub294 \uae08\uc694\uc77c\uc5d0 \uc774\ub7ec\ud55c \uae30\ub300\ub97c \uc2dd\ud614\ub2e4.\uadf8\ub294 \uc678\ud658\ubcf4\uc720\uc561 \ucd95\uc801\uc5d0 \ub300\ud574 \uba85\uc2dc\uc801\uc778 \ubaa9\ud45c \uc18d\ub3c4\ub97c \uc815\ud558\ub294 \uac83\uc740 \ud604\uc7ac \uc0c1\ud669\uc5d0\uc11c\ub294 \ucd5c\uc120\uc758 \uc120\ud0dd\uc774 \uc544\ub2c8\uba70, \ube44\ub85d \ubcf4\uc720\uc561 \ucd95\uc801\uc774 \ubaa9\ud45c\ub77c\uace0 \ud558\ub354\ub77c\ub3c4 \ud398\uc18c\uc5d0 \ub300\ud55c \uc218\uc694\uac00 \ud5c8\uc6a9\ud560 \ub54c\ub9cc \uc804\uc9c4\ud560 \uac83\uc774\ub77c\uace0 \uac15\uc870\ud588\ub2e4. \u25b6 \ucc44\uad8c \ubc1c\ud589 \uad00\ub828 \u201c\uc9c0\uae08\uc740 \uad6d\uc81c\uc2dc\uc7a5\uc5d0 \ubc1c\ud589\ub418\ub294 \uae30\uc5c5 \ucc44\uad8c\ub4e4\uc774 7.5%~8.5%\uc758 \ub9e4\ub825\uc801\uc778 \uc218\uc775\ub960\uc744 \uc81c\uacf5\ud558\uace0 \uc788\ub294 \uc0c1\ud669\uc774\uba70, \uc774\ub4e4 \ucc44\uad8c\uc744 \uc778\uc218\ud558\uae30 \uc704\ud55c D\u00f3lar cable(\ud574\uc678\uc1a1\uae08\ud658\uc728) \uc218\uc694\uac00 \uc99d\uac00\ud558\uace0 \uc788\ub294 \uac83\uc73c\ub85c \ubcf4\uc778\ub2e4.\u201d \u201c\ub2e4\uc2dc \ub9d0\ud574, \ub2ec\ub7ec\ub294 Onshore(\uad6d\ub0b4)\uc5d0\uc11c Offshore(\ud574\uc678)\ub85c \uc774\ub3d9\ud574\uc57c \ud558\uace0, \uadf8 \uacfc\uc815\uc5d0\uc11c MEP \ud658\uc728\uacfc CCL(\uc678\ud654\uc99d\uad8c \ub9e4\ub3c4 \ud658\uc728) \uac04\uc758 \uc2a4\ud504\ub808\ub4dc\uac00 \ud655\ub300\ub418\uace0 \uc788\uc73c\uba70, \ub3d9\uc2dc\uc5d0 **CCL\uacfc \ub3c4\ub9e4 \ud658\uc728 \uc0ac\uc774\uc758 \uc2a4\ud504\ub808\ub4dc \uc5ed\uc2dc \ucee4\uc9c0\uace0 \uc788\ub2e4\u201d\uace0 PPI(\uc0dd\uc0b0\uc790 \ubb3c\uac00\uc9c0\uc218)\ub294 \uacb0\ub860\uc9c0\uc5c8\ub2e4.<\/p>\n","protected":false},"author":6,"featured_media":10254,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[23,25,61],"tags":[],"class_list":["post-10253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-noticias-argentina","category-informes-economicos"],"_links":{"self":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/10253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10253"}],"version-history":[{"count":0,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/10253\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/media\/10254"}],"wp:attachment":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}