With a lower level of intervention by the BCRA in the market and a greater supply from private sources, exchange rates on the stock exchange registered significant declines last week.
Financial dollars fall again At the beginning of this new week, in a context of general calm in the exchange market. Prices have just registered their biggest weekly drop since mid-July, mainly due to a greater private supply despite some intervention by the Central Bank (BCRA).
The “cash with liquidity” (CCL) falls $3.15 (-0.3%) to settle in the $1,254.76which is why the gap with the official rate drops to 31%, a new minimum since May. In turn, the MEP falls $2.08 (-0.2%) to $1,241.79.
In the accumulated total for last week, the CCL registered a decrease of $40.46 (-3.1%), while the MEP’s decline was $36.09 (-2.8%).
Pablo Lazzati, CEO of insider finance, stressed the Money laundering as the main cause of the dynamics in parallel exchange rates“What is happening is that people and companies that want to launder their money are bringing dollars from abroad to Argentina, and as a result, they are selling for the difference between the blue and the MEP in order to be able to enter the laundering process,” he said.
The specialist added that this is “the beginning, since many CERA bank accounts that were opened for laundering have not yet deposited the dollars or pesos to launder and have until the 31st of this month.”
A similar explanation was given Nicholas Capellafrom Investing in the Stock Market. “This Friday we saw orders to sell corporate bonds throughout the session. We mentioned that in September there were tax payments and that could trigger the sale of dollars. I think we are beginning to see that effect. Likewise, deposits in dollars continue to increase, as a result of money laundering. Therefore The square begins to fill with dollars and the pesos are always the same“, he detailed.
News in development.-
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.
