The wholesale exchange rate is still in decline and already drilled the level it had before the debut of the flotation scheme between bands.
He Official dollar deepen This Monday his tendency to low. Thus, the exchange rate wholesaler It already drilled the level prior to the debut of the flotation scheme between bands agreed with the International Monetary Fund (IMF). Luis Caputo took the opportunity to challenge those who had questioned their exchange management policy.
“Once again, we did what we said we were going to do, and what we said was going to happen,” He boasted in a message posted on his social network X.
The minister echoed, this morning, that The dollar quoted for “under the officer, prior to the departure of the stocks”. “We would have to wait A cataract of colleagues and journalists apologizing To tell the people we had devaluedbut surely it will not happen, “he said.
In that context, the Retail official dollar falls to $ 1,052.35 for purchase and $ 1,108.89 for sale in the average of the financial institutions published by the Central Bank (BCRA). In the segment wholesalerwhich is the reference of the official market, the dollar operates a $ 1,079that is to say, 4.9% below last week closure.
As for the future dollarcontracts re -operate with important falls of up to almost 6%. The setbacks mark the expectation of the market that the official dollar deepens to accommodate further down at least in the short term. For example, the position to April is located at $ 1,085.
The expectation of the deepening of the drop in the dollar grows
The economist Gustavo Beranalyzed as far as the price of the foreign currency can fall: “Given the favorable macro expectation is that the official dollar continues to decrease, possibly on the lower band of $ 1,000from the offer of the field – in the high seasonality stage – together with renewed bets towards the Carry -Trade “.
“The latter now not only for local participants but also foreigners, which would give it a greater envy to the avalanche of dollars in the short termhence the tactical hurry in sales, although this time together with prudential macro measures to mitigate an eventual future volatility, “the expert expanded.
For its part, from Bursatilethey expanded: “We must bear in mind that The decline of the dollar can be deepened in the coming weeks due to foreign capital revenues to make carry tradeauthorized by the government with a minimum permanence of 6 months. “
Source: Ambito
