The Financial dollars extended declines This Thursday, August 29, the government and the Central Bank (BCRA) are prioritizing their goal of slowing inflation, even at the cost of putting reserves and fiscal balance at risk.
He CCL dollar fell $2.74 (-0.2%) to $1,289.04while the MEP lost $10.86 (-0.9%) to $1,271.33. With these variations, the gap between the exchange rates on the stock market and the wholesale market fell slightly to 35.6%, two-week low.
In the case of the MEP, the closing value was the lowest since August 14. Thus, It was almost $280 below the “card”, a record since Maywhich makes the so-called “bag” dollar more attractive to savers.
Market sources noted that BCRA intervention was observed again to contain the gap, although the private offer also increased. According to them, Wednesday was the second session with the highest participation of the monetary authority since this modus operandi began.
With this action, the monetary authority seeks to prevent a climate of exchange rate instability from generating pressure on price increases, within the framework of a strategy aimed at bridging the gap “from top to bottom”.
Although intervention in the stock market generates a drain on reserves, in recent weeks the entity led by Santiago Bausili managed to buy foreign currency in the official exchange market, helped by a context in which Importers are delaying their purchases, waiting for the reduction of the PAIS tax which will come into effect next week.
Slowing inflation, the primary objective of the Government
As with the intervention to contain the gap, the 10-point reduction in the PAIS tax rate starting in September also has among its objectives reduce the cost of imports and thus contribute to the slowdown of inflation.
“The nominal appreciation of the exchange rate for imports underlines that, in this ‘Phase 2’ of economic policy, the Government’s main priority is to reduce inflation quickly, even at the cost of sacrificing revenue and reserves. The reduction of the PAÍS tax could put further pressure on reserves and deteriorate fiscal accounts, which shows that the Government is prioritizing disinflation over a quick exit from exchange controls,” said Martín Mazza, Director of MM Investments.
The market demands Lecaps
In the peso debt tender this Wednesday, the Ministry of Economy closed August with net financingalthough the balance was relatively low compared to the average for 2024, in a context in which the reactivation of credit takes away liquidity for these placements.
The novelty was that the portfolio led by Luis Caputo validated a higher rate compared to those of the secondary market. “The bills maturing in November 2024 were placed at a Monthly Effective Rate (TEM) of 3.75%, those of February 2025 at 3.78%, those of June 2025 at 3.9%, and those of August 2025 at 3.88%, showing a premium over the secondary market. However, many investors continue to pay a higher price for coverage in the futures market than the average monthly rate of devaluation, which is around 2%.“, Mazza explained.
How much is the official dollar trading today, Thursday, August 29?
In the official exchange market, the Wholesale dollar rose $1.50 to $951.
How much is the dollar futures trading today, Thursday, August 29?
At the Matba Rofex, the future dollar for the purposes of August fell 0.1% to $952.5while for September -key month for the reduction of the COUNTRY TAX- fell 0.1% to $984. The contract of October fell 0.3% to $1,017, the one of November cut 0.1% to $1,050 and that of December fell 0.1% to $1,086.50.
If the year-end performance is annualized, The nominal annual rate (TNA) is 42.4%very similar to the cap on returns on virtual wallets, and just above the 40% monetary policy rate.
How much is the blue dollar sold for today, Thursday, August 29?
He Blue dollar fell to $1,315 for sale, According to a survey by Scope in the caves of the City.
Dollar card price today, Thursday, August 29
He dollar card or touristand the dollar savings (either solidary) marks the $1,551.20. Thus, The gap with the blue reaches its highest level since June.
Crypto dollar quote today, Thursday, August 29
He crypto dollar or Bitcoin dollar quoted at $1295.02 according to Bitso.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
