For its part, the regulated MEP dollar also rose 0.3% to $ 181.86, which led to the gap to 81.7%. In the segment not intervened by public agencies, the round culminated in the $ 203 area.
Beyond the respite provided by the new norm on Net Global Position in foreign currency of the financial system, they allowed the intercalation of an important purchase of foreign currency from the BCRA, The challenge of managing net reserves is still complex and that is why the balance of its interventions focuses so much attention on a daily basis.
“In ‘hold on’ mode they also follow the regulations on financial dollars, and even on some more free references, in search of calming the search for coverage of the economic agents in these last rounds before the 14-N, since then said strategy would not be sustainable and hence the expectation for definitions regarding the future of exchange rate policy grows“, highlighted the economist Gustavo Ber.
From the consulting firm PPI, they indicated that demand for coverage grows on election days and in a difficult economic context. Monetary and exchange imbalances put pressure on the prices of financial dollars. Meanwhile, the CER curve awaits attentive the inflation data that arrives on Thursday (pre-elections) “.
In the brief informal circuit, the blue dollar remained stable at $ 199 units. On Thursday it had reached $ 200 for the first time during the first operations of the day.
“With a gap greater than 100% between the official and parallel exchange rates, experience shows that growth cannot be achieved and that it is key for negotiations with the IMF, is that reserves cannot be accumulated,” he said in radio statements the economist Rodrigo Álvarez.
The wholesale dollar exceeded $ 100
The wholesale dollar surpassed the psychological level of $ 100 for the first time, well below the unregulated prices that are between $ 199 and $ 216, which marks gaps above 100%.
In a place regulated by the Central Bank with purchase and sale of foreign currency, the currency in the wholesale segment went up 13 cents to $ 100.08 with what compensated, as in every beginning of the week, the days without activity for the weekend. Today’s correction for the dollar is the highest for a start to the week since the second week of October, when it reached a fifteen-cent rise on that day.
The Central Bank ended with a neutral balance, reducing the monthly sales to less than 30 million, after the entry into force of a new rule on net Global Position in foreign currency of the financial system, which allowed a greater coverage by the exporters, in a round where close to US $ 650 million were operated.
Last week the authority prohibited financial entities from adding dollars to their holdings until the end of the month, with the intention of clearing up doubts about a potential devaluation after the legislative elections to be held on Sunday. “The measure aims at least until the end of the month to limit the banks’ foreign currency position and thus limit demand,” said Roberto Geretto, an economist at Fundcorp.
The greater limitations to the exchange market allowed the BCRA to buy almost 210 million dollars on Friday, a day in which the wholesale dollar recorded its first daily decline in more than a year.
In the retail segment, the dollar today it rose 13 cents this Monday to $ 105.58 -without taxes-, according to the average of the main banks in the financial system, in a context of marked upward pressure for versions of the “unregulated” currency. In turn, the retail value of the US dollar ended at $ 105.25 at Banco Nación.
The North American currency operated with a mixed trend and with prices oscillating within a fluctuation range slightly higher than in previous days. Official regulation once again kept the evolution of the price under control, setting as always the upper and lower limits of the fluctuation band of the dollar in the wholesale segment.
Today’s lows were recorded shortly after operations began, at $ 100.04, ten cents above the previous end. Foreign exchange earnings and official sales held for a short time the price around the initial lows in the first part of the session. The authorized demand generated a lukewarm reaction of the values, accommodating them in the range of $ 105.00 / 107 during most of the development of the date. The maximums were registered in the last section of the wheel, when, due to the push of some orders pending execution, prices reached $ 100.08.
Source From: 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.
