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Sunday, November 27, 2022

Expensive, cheap, or stable? What does the government think of the dollar?

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When Massa’s appointment was announced The MEP dollar was trading at $323, while four months later it closed on Thursday, November 24 at $319.

The price of the MEP dollar at real values ​​is at its lowest in the last two years, that is, in the last two years it took more income than today to buy the same amount of dollars.

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The work indicates that with an accumulated inflation of 28% in the last four months, the price of the MEP at $323 at the end of July It would be equivalent, adjusted for inflation, to a current MEP price of $415.

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In other words, the MEP price at today’s close of $319.3 means a real appreciation (fall) of the MEP of 23% since the inauguration of the minister. Hence it is interpreted that “the increase in the MEP in the last two weeks only marks a small correction in the real value of financial exchange rates, which place it at levels similar to those of a month ago”.

Meanwhile, in the markets, some operators point out that, precisely, this nominal stability of the dollar is an entry argument for investment in foreign currencies.

From a longer time perspective, the MEP price expressed in today’s pesos, adjusted for past inflation, is located on average $353 in the last two years“levels to which the parallel dollars have not even approached during the new administration in the Ministry of Economy.”

At the same time, the price of the official dollar has not only accompanied the financial dollars in recent weeks, but since Massa’s appointment, the official dollar has evolved at a better pace than the parallels, allowing a correction of the exchange gaps .

Between July and November of this year, the gap between the official dollar and the MEP was reduced by 50%remaining stable in the range of 80%-90% during the last weeks.

Source: Ambito

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