Since last week the CCL woke up and recovered a good part of the $40 it had lost since the end of January.
At the local level, the pressure of inflation on the rest of the variables in nominal terms, some doubts about the fulfillment of the goals with the IMF and a level of accumulation of reserves lower than what was expected for this time of year, were factors that put pressure on the search for currency hedging.
To this was added an unfavorable international context, marked by a strong aversion to risk due to the confinements in Chinese cities, the war in Ukraine and the upward trend in interest rates in the US. As a consequence, the US dollar strengthens against the rest of the world’s currencies.
“The financial dollars seek to resume the upward readjustment, which is fed by external and internal condiments, such as concerns about inflation, a possible greater monetary issue and political tensions, which incline operators to greater coverage after enjoying of the ‘carry-trade’ in recent times”, said the economist Gustavo Ber.
The jump in parallel dollars reflected the loss of appeal of the “carry-trade”, an operation through which investors took advantage of the high yields of inflation-indexed securities in recent months to later buy “cheap” dollars.
official dollar
The wholesale official exchange rate rose 17 cents this Tuesday to settle at $114.85.
“In the first two days of this week, the wholesale exchange rate advanced 62 cents, against a rise of 81 cents registered in the same period of the previous week. After the rebound in the sliding rhythm of the prices of the wholesale dollar verified last week, the monetary authority put some brake on the adjustment, slightly moderating the daily correction in an international scenario of extreme volatility”, remarked an operator.
The BCRA ended its intervention in the foreign exchange market with a positive net balance of US$15 million. A few days before the end of the month, the accumulated figure for April gives a result in favor of US$230 million, although the market expected a larger result, taking into account the foreign exchange income that usually occurs at this time for exports of grain.
For its part, the savings dollar -retail plus taxes- rose 53 cents to $197.90 on average.
Dolar blue
Unleashed, the blue dollar soared $7 (3.4%) yesterday, which represented its biggest daily rise in a year, in percentage terms.
The informal dollar went from $205.50 to $212.50 on the day, after rising $2.50 in the previous round and after crowning last week its biggest weekly increase in three months.
Thus, in the last six days it accumulated a rise of $17.50 (+9%), with which the gap with the wholesale exchange rate jumped to 85%, the highest level in a month and a half.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
