what are the causes of the strong rebound

what are the causes of the strong rebound
November 9, 2023 – 15:31

The blue makes a strong daily jump, after declining in two of the last three weeks.

He Dolar blue write down your biggest rise from the post-election day and quotes $950 for the sale. This illegal exchange rate came from falling in two of the last three weeks and accumulates fall $150 from its nominal record of $1,100noted last October 23.

After strong cave raidshe Dolar blue had closed in $900 in the prior to the general elections. But Monday after the electionshe touched his nominal historical maximum in $1,100.

This Thursday, the parallel dollar hits a $60 jump and quotes $900 for the buys already $950 for the saleaccording to a survey of Ambit in the caves of the City. Thus, the gap with the official dollar, is located in the 171.4%.

Rise of the blue dollar: previous calm and recovery

Gustavo Quintanaof PR Exchange Operatorscommented to Ambit that rise of the blue dollar may be due, in part, to a higher level of activityafter previous days with little business. Furthermore, he maintained that The decline could have been due to peso needs of those overbought investors who had to face expenses.

“I think that the market recovers from previous falls and is once again approaching the levels most similar to those prior to the general elections. However, you should never jump to conclusions for a couple of daysthe trend is seen with a somewhat longer horizon,” he added.

Why the blue dollar is rising: electoral expectations

One of the main phenomena to take into account to analyze the current scenario is the political situation, the proximity of the runoff. In the preview, expectations are organized around the surveys.

“The latest polls show a week in which Javier Milei (candidate for president of La Libertad Avanza) it was a little stronger and they give him a greater chance of being president. Due, dollarization is reactivatedbecause the liberal candidate did not abandon that idea, nor that of close the Central Bank“he explained Amilcar Collanteeconomist Cesur.

BCRA reserves: does it impact the blue dollar?

On the other hand, Collante clarified that the level of BCRA reserves it keeps falling and that’s it another of the factors that can drive the rise of the illegal dollar.

“If we calculate the value of convertibility dollaris currently exceeding $1,400 per dollar. That tells you that the dollar has an upward trend taking into account that it is around $950,” he added Necklace.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts

Lecce drew 1-1 on their visit to Empoli

Lecce drew 1-1 on their visit to Empoli

Empoli and Lecce tied 1-1 in the duel corresponding to date 15 of the Italy – Serie A 2023-2024 tournament, at the Stadio Carlo Castellani