This Sunday October 22 The future president of the country will be defined or, failing that, those who enter the runoff. So, Many Argentines will be awaiting the results to find out how the dollar quotes will open on Monday. A one-by-one review of the different exchange rates and What can we expect?
Crypto dollar: 24 hours a day, 365 days a year
The crypto dollar or Bitcoin is the only one that operates 24 hours a day, every day of the year and this Sunday it stands at $1,224.76. Thus, it is positioned as the exchange rate most expensive on the market. It should be remembered that the value of crypto dollar offers a projection of the parallel exchange rate, so follow sHis evolution could anticipate what could happen with the illegal bill.
MEP dollar: what is the twist that was created over the weekend
He MEP dollar rose $9.81 on Friday and closed at $899.41, after exceeding $930 during the day. In this way, the gap with the official reached 157%. This weekend, The fintech Cocos Capital announced the availability of one dollar at a guaranteed price of less than $1,000.
Ariel Sbdar of Cocos Capital explained that the offer aims to “secure the exchange rate before the market opens to protect against fluctuations in bond prices“and highlighted that “no commission is charged for channeling the operation.” There were some who, faced with this possibility, They decided to sell their dollars through the crypto market and later reacquire the foreign currency in Cocos.
The intervention of the Central Bank in the bond market to contain the price of the currency amounted to about US$83.1 million on Wednesday, above the amount of the previous day (US$81.5 million). In the last five rounds, it accumulated a total of US$424.6 millionaccording to estimates by Portfolio Personal Inversiones.
CCL dollar: advanced strongly in the previous one
The “Cash with Settlement” dollar (CCL)– which companies use to transfer foreign currency abroad – flew this Friday, October 20, and for the first time exceeded the symbolic figure of $1,000. “In a context of high political uncertainty, the ‘CCL’ continues to extend its upward trend in the run-up to the elections despite the expansion of regulations established in the last week,” He said he had anticipated Personal Portfolio Investments (PPI).
“Given the promise from the Ministry of Economy of sustain the wholesale exchange rate at its current levelthe growing dollarization pressure, and the absence of signs that indicate a change of course in economic and exchange matters that calms the market, very possibly an increase in the gap will be observed to levels even higher than the historical maximums“, Investing in the Stock Market (IEB) had anticipated.
Blue dollar: frozen price
On Friday the blue dollar closed at $900after the Government decided to reinforce control measures in the informal market with new operations in several cities in the country, which maintained paralyzed to the caves. That is why the The informal market operated very limited in recent days. Throughout the short week, the parallel dollar registered a loss of $80 or 8.2%.
In the previous one, the EcoGo economist Sebastian Menescaldihe had told Ambit that “The decline of the blue responds to the operations that were carried out in the previous week of the election”. For him, it is temporary, because he does not see that the dollarization pressure has decreased and he does not rule out that it could increase in the future.
Official dollar: will it remain flat?
The Secretary of Finance, Eduardo Setti, confirmed that the official exchange rate It will remain fixed until next November 15, based on what was agreed with the International Monetary Fund. Along the same lines, the Secretary of Economic Policy, Gabriel Rubinstein, assured that “On October 23, the official dollar will be at $350” and pointed out that starting in mid-November the “crawling peg” will be resumed with a gradual adjustment “of 3% monthly.”
Source: Ambito
