In this context, the purchase balance of the BCRA was possible despite the fact that during the entire round the demand for foreign exchange for energy remained very firm, exceeding US$100 million, according to market sources. So far this month, official losses are close to US$900 million and continue to be the most important so far this year.
reasons
With the retraction of the last few hours, the gap that separates the official wholesale exchange rate from the illegal parallel, which had reached an exorbitant 160% on Friday, finally fell to 146.9%. However, it is still located at a high value for the maintenance of macroeconomic variables. For market analysts, it could be a momentary respite, mainly if announcements by politicians are delayed.
“I think that the respite of the last wheels originated in the decline of financial dollars from the new regulations on the Cedear, which as usual generates short-term rebalancing of positions,” said Gustavo Ber, head of Estudio Ber . For the economist, the pause generated by this rearrangement “could be just ephemeral if strong economic announcements do not arrive soon from the fiscal, monetary and exchange front.” In this sense, he considered that the Government should propose a comprehensive plan “that arouses confidence” in order to aspire to correct the imbalances in time.
The financial analyst Salvador Di Stefano did not hesitate to affirm that yesterday’s session showed “a rare market” that, in his opinion, is awaiting definitions from the Minister of Economy, Silvina Batakis, with activity in Washington. “I think we have to wait for the definitions or the result of the meetings that Batakis has in the United States,” said Di Stefano, noting that the market “still has a high degree of uncertainty.” However, in his opinion, the blue dollar “is very expensive” and “should be falling to the $300 zone.” Why is it still high? For the analyst, the answer is that “there is a shadow cone in the economic scenario that continues to place us in a scenario of high uncertainty”
Economist Jorge Neyro linked the evolution of the blue dollar with its parallels on the Stock Exchange, noting that yesterday “it fell because there was a calmer financial day.” “In general, it tends to adjust to MEP dollar values,” he explained. Precisely the MEP dollar registered a fall since last Thursday, from $326 to $319. While the blue fell from $337 to $322.
Regarding the rest of the quotes, the official dollar -without taxes- rose 69 cents to $137.30. Savings or solidarity, rose $1.14 to $226.55. Meanwhile, the wholesaler, which directly regulates the BCRA, increased 66 cents to $130.40. In this way, the crawling peg accelerated again, since the BCRA increased the rate of daily devaluation to a TNA of 64.1%.
Source: Ambito
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