He predicts that the currency will continue to rise and analyzes the intervention of the US Treasury and the impact of the elections on the exchange rate.
The economist Orlando Ferreresa market leader and who knew how to mentor Javier Milei, anticipated that the dollar could reach values close to $2,000 by the end of the year, while the rise of the currency continues and the Central Bank seeks to stabilize the exchange rate through a US$20 billion swap agreement with the United States.
The head of the consulting firm OJF & Asociados explained that the currency maintains sustained demand despite official interventions. “The price may be close to that value by the end of the year because there is permanent demand”held.
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Just four days before the legislative elections, the official exchange rate closed on Tuesday at $1,515 at Banco Naciónwith an increase of 1.3% on the day. For its part, the card dollar is around $2,000, a value that, according to the economist, reflects the trend that could consolidate towards December.
“We have to appeal to aid to be able to convince the market, which is a difficult market because it sees that “After the 27th there will be some changes”added Ferreres, alluding to the climate of uncertainty prior to the elections.
JAVIER MILEI AND DONALD TRUMP
His view of the intervention of the US Treasury
Regarding help from the US Treasury, Ferreres considered that “puts money a little arbitrarily”since “there are days when he puts money in and there are days when he doesn’t put in anything.” As he explained, “it operates with some American banks and also with the Spanish bank Santander or with another American bank, JP Morgan,” although he clarified that “It is not a voice that becomes clear every day, but sometimes when you see something in difficulty.”
In any case, the economist maintained that “in any case the dollar continues to riselittle by little, but it is rising”, in reference to the trend that persists despite the Government’s attempts at containment.
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Reforms and political scene
Finally, Ferreres referred to the legislative challenges of the ruling party: “Key laws are missing, such as the labor law, the retirement law (…) It is not easy to get all these laws passed now because the opposition has a majority in Congress.”
In that sense, he projected that “As of December 10, the government will have more possibilities to do things”although he stressed that everything will depend on the electoral result: “We will see how the elections go.”
Source: Ambito
