“Financial dollars continue to be sustained given that operators continue to be inclined towards hedging in a climate of uncertainty both internally and externally, where the rate hike in the US becomes a serious challenge for emerging markets,” said economist Gustavo Ber.
The BCRA has just increased its reference rate to 40%, amid annualized inflation above 50% and a sharp third wave of coronavirus that raises concerns about its impact on the economy.
For his part, Roberto Geretto, an economist at the Fundcorp fund, indicated that “a gap of 100% is unlikely to be substantially reduced with homeopathic doses of rates (from the BCRA). To make matters worse, the drought and a possible rise in rates of the ‘Fed’ sooner than expected are factors to monitor, since they would make the outlook more complicated, “he synthesized.
Official dollar and Central Bank
The wholesale dollar rose five cents to $ 103.56 under the constant regulation of the BCRA. In the round with the lowest volume of business so far this month, the currency operated very stabilized around the level set by the enforcement authority.
This Tuesday, the Central Bank added its seventh consecutive round with a balance after buying another US $ 20 million from its intervention in the official exchange market; with what accumulates u $ s200 million in the month.
Ber indicated that “the monetary authority takes advantage of the greater supply of the field to intersperse days with positive balances that give it a respite from the challenge of managing limited liquid reserves in a context of important commitments.”
The monetary authority came from selling US $ 460 million, in net terms, during December, although in the accumulated of 2021 it had a favorable result of around US $ 5,000 million.
In the round this Tuesday, the maximums were recorded with the first operation agreed at $ 103.58, seven cents above the previous end. In a scenario of very low volume of operations, the price of the wholesale exchange rate did not suffer significant variations, reaching a minimum of $ 103.56 at the time when the offer dominated the development of the session. The Central Bank again took advantage of the excess supply with purchases that sustained the price at today’s lows.
In the first two days of this week, the wholesale exchange rate rose 28 cents, against an increase of 37 cents in the same period of the previous week. “The monetary authority slowed down the rate of adjustment of dollar prices, after the significant rise of the previous week,” said analyst Gustavo Quintana.
Revenues from abroad continue to collaborate with the official activity, allowing it to accumulate seven consecutive days with positive balances, exceeding US $ 200 million of net purchases until today, a fact that has not been repeated since October last year for the beginning of the month.
In the retail segment, the Today the dollar closed almost stable at $ 108.97 -without taxes-, according to the average in the main banks of the financial system. In turn, the retail value of the currency at Banco Nación remained at $ 108.50.
The savings dollar or solidarity dollar -which includes 30% of the PAÍS tax, and a 35% on account of the Income Tax- rose two cents to $ 179.80.
The dollar blue bounced $ 3 to the record of $ 209 this Tuesday, January 11, 2022 according to a survey by Ambito in the Black Market of Foreign Currency, after two consecutive losses. In this way, the gap with the officer again exceeded 100%.
Therefore, the spread with the wholesale exchange rate, which is regulated by the Central Bank (BCRA), is located at 101.7%. The closing of this Tuesday, equals the record set on December 29, 2021.
Source From: Ambito
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