The CCL fell 0.7% and the BCRA accumulated 20 wheels with a buying balance

The CCL fell 0.7% and the BCRA accumulated 20 wheels with a buying balance
September 12, 2023 – 00:00

The Cash with Settlement closed at $736.03, so the spread with the official one was 110.3%. The MEP, on the other hand, rebounded 0.3%, to $675.54 and the blue rose $7, to $717.

The Cashed Settlement dollar (CCL) fell yesterday and the gap hit almost one-month lows, after having registered last week the biggest drop in more than a year, which meant a respite after the spike in August. The MEP rebounded and the blue rose for the first time in nine days.

The CCL fell $5.06 (0.7%) to $736.03, after falling 3.5% last week, the largest weekly drop since the 12.4% collapse in the last week of July 2022. Thus, The gap with the official figure is 110.3%, the lowest in almost a month.

For its part, the MEP dollar rebounded $2.18 (0.3%) this Monday and stood at $675.54. In this way, the spread with the wholesale exchange rate reaches 93%.

Regarding the evolution of these exchange rates, economist Gustavo Ber stated that “financial dollars continue relatively calmer, after deflating somewhat from their highs, although they could be close to their ‘floor’ due to the acceleration of inflation. , monetary issuance, political uncertainty and the search for coverage.”

In this framework, the blue dollar rose $7 and closed at $717 yesterday, in what was its first increase in nine days, after falling $20 (2.7%) last week and suffering its biggest weekly drop in 11 months.

In this way, the informal currency broke with the downward trend and moved away from the psychological barrier at $700. The gap with the official exchange rate increased to 104.9%, after hitting an intraday annual record of 127.1% on August 16, its highest level since the July 2022 run (139.3%).

This happened after having closed a strongly bullish August after the 20% devaluation of the peso. Last month, blue rose $185, or 33.6%, the largest monthly gain since April 2020 (41.3%).

Meanwhile, the Central Bank (BCRA) bought US$52 million in the exchange market and accumulated 20 positive wheels in a row, the longest streak of 2023. So far in September, the monetary authority has already bought almost US$ s250 million, while the daily average for this month rose to $35 million.

Since the launch of the export increase program on July 24, the BCRA has acquired more than US$2,428 million

Source: Ambito

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