In parallel, the prices of the CCL evaluated with other assets (such as the GD30 bond, ADRs, or Cedears), exhibit a similar performance and exceed the $227, for which the gaps are positioned around the 117%.
In the case of the MEP dollar (via AL30), the price fell 0.8% (-$1.68) to stand at $217.41, after soaring 3% (more than $6) in the previous day. The gap drops to 107.8%.
The stock exchange rates come from exhibiting a strong acceleration in the last rounds, due to several factors, such as the drop in the demand for money to carry out transactions in relation to December, fears about a hypothetical break with the IMF, and interest rates in pesos that fail to limit the search for foreign exchange coverage despite the recent adjustments established by the BCRA.
Argentina must pay the IMF a maturity of some US$730 million on Friday and another US$365 million on February 1, before a large maturity of US$2.9 billion in March.
Most analysts believe that Argentina will pay this week, given that it does not represent an amount as high as that of March, and because not doing so would imply a bad sign while the talks continue with the body to reach a consensus.
“We are working very closely with the Argentine authorities to develop a program that helps the people. We need a program that sounds credible and that addresses the imbalances that the country suffers,” the Fund’s deputy managing director, Gita Gopinath.
“We understand that the social and economic situation is challenging, so we are taking a flexible and pragmatic approach in the hope of making further progress in the coming days,” he added.
Also, in his latest statements, the Minister of Economy, Martin Guzmanassured that “Argentina wants to reach an agreement, which is necessary for both parties“.
It is worth noting that the country could not afford the $19 billion that should be paid to the institution led by Kristalina Georgieva this year. In a context of imports at high levels, expectations of devaluation, and commodity prices not as high as in 2021, net reserves are under pressure.
Added to all this is a context of strong risk escape at the international level, in the face of an expected rate hike by the US Fed and a possible conflict between Russia and Ukraine, which strengthens the dollar in the world.
Official dollar and Central Bank
In the wholesale segment, the dollar rises 10 cents up to $104.63. Although its rate of advance is far from that observed in the parallels, the official price is heading to register its highest monthly rise since March of last year.
On Tuesday, the BCRA was able to end its intervention in the official foreign exchange market with a positive balance in terms of foreign currency accumulation, since it bought US$40 million, in net terms. In this way, the accumulated monthly result once again exceeded US$100 million, a figure similar to that of January last year.
For its part, the retail dollar operates stable at $110.08, -without taxes-, according to the average in the main banks of the financial system. Therefore, the solidarity -which contains the taxes- is located at $181.63.
The blue dollar resumes its upward climb this Tuesday, January 25, 2022, breaking a new nominal record, exceeding $219, according to a survey by Ámbito in the Black Market of Currencies.
The Casual Dollar increases 50 cents to the unpublished $219.50, after being unchanged on Monday.
Thus, the gap with the official exchange rate stands at 109.8%, close to a maximum since 2020.
Source From: Ambito
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