The future dollar in December closed with a slight decrease of 2%, however the level was almost double that of this day’s price of the wholesale dollar.
He went away the last working day of the Government of Alberto Fernández and the future dollar market revealed what it believes will happen to the foreign currency at the beginning of Javier Milei’s Government. So, the contract to December was agreed in $755which implies a devaluation of almost 100% since this day closed in $385.
It should be noted that the Central Bank decided to speed up crawling peg and the wholesale dollar had the most important daily rise in the last four months. The official exchange rate rose this Thursday, December 7, by $21.30 (+5.86%) to $385.
For its part, in Matba Rofex the contract to December fell 2% and ended at $755. In January, it advanced 0.2% to $871, while in February it rose 0.2% to $959.7 and in March it fell 0.2% to $1,035.5.
The peso is expected to suffer a devaluation starting next Monday, market sources revealed. The official exchange rate could be $650, implying a potential loss of 44%according to the median estimates of 13 analysts surveyed from December 1 to 5.
Source: Ambito
