The Cash with Settlement rose to $789.67, while the MEP increased 0.5%, to $689.85. For its part, the informal currency was quoted at $773.
The Dollar Cashed with Settlement (CCL), the exchange rate that companies use to transfer foreign currency abroad, accelerated the rise yesterday and recorded its seventh consecutive advance, to approach $790, in the face of persistent dollarization of portfolios as hedges with the proximity of a defining presidential election.
In the Buenos Aires stock market, the CCL advanced $14.43 (1.9%) and reached $789.67. Thus, the gap with the official one stood at 125.6% and reached the highest levels of the month.
For its part, the MEP dollar rose $3.16 (0.5%) to $689.85, after setting a new intraday nominal record the previous day. Meanwhile, the spread with the official exchange rate stood at 97.1%, although during the day it remained at its highest value in four months.
On Tuesday, the Government and agricultural exporters indicated that this week the soybean dollar would end at 4, despite the rumors that had emerged in recent days about a possible extension. But, in an attempt to contain the alternative prices of the dollar, the Minister of Economy and candidate for the ruling party, Sergio Massa, announced the implementation of a special exchange rate (the Vaca Muerta dollar) for the oil sector in order to encourage settlements in the sector and analyzes the possibility of launching a similar mechanism for mining.
“With this measure, we interpret that the economic team prioritizes using this liquidity to intervene in the ‘MEP’, the novelty happens because 25% of the exports of the oil sector could be channeled through the ‘CCL’, with a potential monthly supply of 150 million ”, estimated Portfolio Personal Investments.
In this framework, the blue dollar accelerated its upward trend, rising another $15 to close at $773, its highest value since the devaluation, when it reached $780.
In this way, so far this week it has already amounted to $28. For its part, the spread of the parallel bill with the official exchange rate reached 120.9%, the highest in one month.
Meanwhile, the BCRA maintained its gradual buying streak, acquiring US$3 million in its daily intervention in the exchange market and extending the buying series to 32 wheels. In this way, the monetary authority accumulated a positive balance of US$522 million throughout September.
Source: Ambito
