The official wholesale dollar fell for the seventh consecutive day on Monday and played a minimum of August, conditioned by the firmness of supercing pesos, above 40% per year. The decline occurred in the prelude to a debt tender in pesos of the Treasure, which will be key to clearing possible pressures on the exchange rate.
He Wholesale dollarwhich is the market reference, fell 0.3% and closed to $ 1,322. The volume operated in the cash segment It was above the average of the month and touched the US $ 558.1 million.
For its part, the Retail dollar backed $ 1,339.16 for sale, and in the Nation Bank (BNA) He went down to $ 1,335. Thus, the Card or tourist dollarand the Savings dollar (or solidarity)equivalent to the official retail dollar plus a surcharge of 30% deductible of the income tax, it was $ 1,735.5.
Meanwhile, The bond rates are still high, in the 45% area And they sink the rest of the curve, although market sources expect that, after the expiration of the S15G5 LECAP this week, Financial entities recover liquidity and return to levels close to 30%.
As for parallels, the MEP dollar fell 0.6% to $ 1,324.65, while the dollar counted with liquidation (CCL) He did 0.7% to $ 1,327.50. He dollar Blue, meanwhile, rose $ 10 to $ 1,335according to a survey of Scope in the City caves.
The contracts of future dollar They finished the day with a majority of increases. The “price” market that the wholesale exchange rate at the end of August It will be $ 1,356 and that in December It will reach up to $ 1,506. In the futures market about US $854 million were negotiated.
This Monday, International BCRA reserves fell at US $ 138 million to US $ 41,976 million.
Dollar: “No one expected the peso to continue devaluing”
The director of Epyca Consultores, Martín Kalossaid a Scope that there is CALL CANTIARIA in the market product of “a reasonable scheme” in terms of supply and demand of dollars, and a quiet movement so far in August. “There is no reason to anticipate a rise again”he said with respect to the jump of the official exchange rate at the end of July, month where he advanced 14%.
“It is clear that the Government is providing a slight intervention to make it lower some pesos from the rise in July”said Kalos, who understands that “No one expected it to continue devaluing” After that monthly increase.
“On the other hand, (the intervention) is getting rid of that recovered, partial competitiveness,” which favored the Argentine industrial sectors against imported production. “It would make more sense to hold the exchange rate to lower it,” he added.
Also, a recognized economist indicated Scope That the market is “quite quiet” these days, and dismissed a shock of the dollar from both the demand, and from the supply.
The agro -export sector contributed during last week income for US $ 402,873 million, an amount lower than the maximum peaks reached in Julybut with a slight rebound with respect to the daily averages of the end of that month, according to what market sources reported.
In that sense, the economist Amilcar Collante He expressed in X that, even the legislative elections, the offer of the official market “will depend more on financial dollars than on the offer of agriculture.”
Globally, the green ticket recovered some land in the last month: the dollar index (dxy) 0.9% was strengthened at an intermennsual level last week, although the rule was again volatility following the tariff ads of US President Donald Trumphighlighted a Balanz report.
The market follows the tender of the treasure and the inflation data
The market follows the tender of the Treasury, which faces maturities of around almost $ 15 billion next Wednesday, as well as the announcement of the July inflation data by INDEC by the INDEC. While the maturities of the S15G5 were greater than $ 23 billion, a part of the amount was in the hands of the BCRA, granted in the exchange of Lefis.
Last Monday the treasure redeemed this letter to one to December, so the new amount in the hands of deprived to face the $ 15 billion. The menu available in the tender will be announced on Mondaywhile the liquidation will take place next Monday, August 18.
Source: Ambito
