Remunerated Accounts and Virtual Wallets: Currently, one of the best alternatives for pesos that will not be needed for a few days is to deposit them in a virtual wallet that generates interest continuously. There are several options, and their yields range between 96% and 106% TNA. It is important to mention that these returns could increase after the increase in rates on fixed terms.
However, What to do with money that can be kept for longer? Is the fixed term, the dollar, or are there other options recommended?
Let me state my arguments as to why I am not a fan of fixed deadlines:
In first place, I consider that one month of peso immobilization is too much in the current context of Argentina. It is essential to seek liquidity in investments.
On the other hand, the dollar tends to grow on average, exceeding the interest rate, which causes fixed-term investment to lag behind.
In third place, it is relevant to take into account that banks already have a considerable part of their investments (more than 40%) in Argentine debt. By opting for fixed terms, you are indirectly assuming this risk.
When analyzing the macroeconomic variables, the official or wholesale dollar is the variable with the greatest growth potential, given that there is a substantial gap. In any political scenario, it will likely need to increase. Therefore, a solid option is to invest in assets that follow the evolution of this variable. The acquisition of assets such as negotiable obligations linked to the MEP exchange rate or Cash with Settlement can also be considered, as well as the purchase of dollar futures linked to the wholesale market. It is important to note that the October and November futures are particularly attractive, in my view, at the moment, with selling prices of $370 and $444.90, respectively. Likewise, the future dollar for December is quoted at $944. This strategy can help hedge peso holdings.
Another option that has gained great popularity among investors is CEDEARs. Why are they a standout choice?
Because they allow you to buy or sell in pesos or dollars, and they represent certificates that follow the behavior of shares of companies listed outside of Argentina. This provides a hedge against the dollar when the funds are denominated in pesos. It is important to note that this investment is considered medium and long term, and it is advisable to hold it for at least 6 months, although you have the flexibility to sell any time you need.
You must always keep in mind that the investment choice depends on your personal objectives, your investment horizon and your risk tolerance. It is always advisable to seek the advice of a financial expert before making important investment decisions.
In conclusion, while we explore the complexity of investments in electoral times and with so much uncertainty that we haven’t had for so long, let us not forget that prudence and flexibility are our greatest allies. While numbers and data may be our compass, adaptability and a keen eye for opportunities are equally essential. Let’s take advantage of these moments of challenge to learn, explore new alternatives and question our financial beliefs, educating ourselves as a basis to continue on this path.
Source: Ambito
