At the same time, the MEP dollar -also valued with the Global 2030- fell $0.16 (-0.1%) to $278.94, so the gap compared to the official exchange rate reached up to 108.8% . In the week that passed, the stock dollar recorded a rise of $2.08 (+0.8%).
For its part, the blue dollar lost $1 (-0.3%) to $292, bringing the gap against the wholesale market closer to 118.6%. In the past week, the parallel dollar showed a decline of $3 (-1%).
Measures
“Massa’s speech and first measures seem to be oriented in the right direction, but it seems very difficult that they can change the current situation”, said Roberto Geretto of Fundcorp.
A BCRA survey revealed that analysts expect inflation of 90.2% this year and an exchange rate of 167.16 pesos per dollar by the end of December.
“Expectations, which had increased significantly in the prelude, quickly deflated in the face of the announcement of measures that were perceived as superficial and that do not attack the underlying problems”, estimated Portfolio Personal Inversiones -PPI-.
official dollar
In this context, the Central Bank sold reserves for the ninth consecutive day, ending with a negative balance of some US$84 million.
The demand for foreign currency for energy was in the order of US$110 million, according to market sources. Thus, in the last 9 days, the monetary authority sold some US$1,130 million.
“At this rate, in around 15 days the net reserves would already be zero, implying greater pressures on the exchange rate, where the net liquid reserves have been negative for a long time. In this scenario, devaluing without a plan and without reserves would be the worst result,” Geretto said.
For its part, the official retail dollar increased 60 cents and closed at $140.49. The savings dollar increased $1.04 to $231.81 and the tourist dollar rose $1.10 to $245.86.
Meanwhile, the wholesale dollar, which is directly regulated by the BCRA, increased 68 cents to $133.57, an expected increase considering the beginning of the week.
Source: Ambito
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