In the market they explain that the demand for energy remains high, and they calculate that throughout June it could reach US$2,000 million.
The balance of the BCRA’s foreign exchange intervention during this month shows an amount of approximately US$500 million of net loss of reserves, with which the accumulated purchases in the year now fall to just over US$430 million, quite far from what obtained the previous year and also from the projections for the current one.
This shows the difficulties that the country faces for the key goal of reserve accumulation, which the agreement with the International Monetary Fund stipulates at US$5.8 billion for all of 2022. Despite these complexities, this goal was recently ratified by officials. .
They consider in the Government that there was a change in the usual seasonality of foreign trade. For example, large energy purchases were brought forward for the second quarter with the aim of guaranteeing access to LNG in the international market, which was strongly affected by the war in Ukraine. In addition, it observes a low level of soybean sales (they estimate a delay equivalent to US $ 2,500 million), which point to reversing in the coming weeks. All in all, the scenario is challenging.
official dollar
In this framework, yesterday the savings or solidarity dollar -which includes 30% of the COUNTRY tax and the 35% deductible of Earnings- rose 16 cents to $213.03 on average.
The wholesale exchange rate, which is directly regulated by the BCRA, rose 25 cents to $124.10, accelerating its upward march compared to last week. With one round to go to finish this week, this price increases $1.18 against the $1.13 increase of the previous week.
parallel dollars
Meanwhile, in the financial market, the “liquid counted” dollar (CCL) -operated with the Global 2030 bond- rebounded 0.8% to $237.32, with which the gap with the wholesale exchange rate widened to 91.2%.
For its part, the MEP dollar -also valued with the Global 2030- rose 1.9% to $232.23, so the spread with the official exchange rate was 87.13%.
Finally, and after two strong rises in a row, the blue dollar stopped its upward climb this Thursday, although it closed at its historical nominal record, while the gap ended for the second round above 80%, according to a survey by Ámbito in the market casual foreign exchange
The illegal exchange rate ended unchanged at $224, after jumping $8 between Tuesday and Wednesday. In this way, it remains at its nominal maximum, which it had already reached on Tuesday of last week.
Source: Ambito
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