Uruguayan investors were enabled this Friday to negotiate in the futures market of the Dollar Cash With Settlement (CCL) of Argentina, which opens a new option in the exchange market, in a context of uncertainty in the neighboring country about what will happen to the Dolar blue and his gap with him exchange rate official.
In this way, an operation began in the country that can derive flow from a broad market such as the Argentine, at a time when the dollar appears downward in Uruguay, with a sharp drop in November that led it this Friday to return to the range of 38 pesos.
On the first day of the Futures on Argentina Implicit Parity Index, which is based on the CCL index, 45 contracts expiring this month were negotiated, distributed in 6 operations and with a maturity adjustment of 0.001 dollars per Argentine peso.
Thus, within the framework of the regional project of UFEX, the futures and options market Matba Rofex Group, Five stockbrokers and two specialized investors can place orders, such as the Central Bank of Uruguay (BCU) and AFAP Republics, Monday to Friday, from 10 a.m. to 5 p.m.
What happens with the dollar in Argentina?
Argentina is going through a moment of exchange uncertainty, after the runoff that consecrated Javier Milei as president-elect. However, upon taking office next Sunday, December 10, among the battery of decisions to be made, it is expected that the president will not lift the restrictions immediately.
Although it began crawling peg in Argentina, It is expected that there will be a devaluation of the official exchange rate, although in any case a gap with the exchange rate would remain. blue, he MEP and the CCL, Therefore, in this scenario, investors could choose to hedge with this alternative.
Today, the CCL dollar rose 65.65 Argentine pesos, with a daily increase of 7.8%, remaining at 904.36 pesos and leading the gap with the official up to 150.5%.
Meanwhile, the MEP dollar rose 5.7% to 907.69 Argentine pesos and the spread remained at 151.4% and the blue, which amounted to 50 pesos, was 905 pesos for the purchase and 955 pesos for the sale, according to a survey by Ambit in the caves of the City.
The exchange rate continues to decline in Uruguay
Meanwhile, the dollar It closed at 38,974 pesos in the country, according to data from the BCU, returning to the range of 38 pesos after three months and continuing its downward path, which took it in November to go from 40 pesos for the only time in the year to the current level. .
The exchange rate signed its first drop in five months last month and has already depreciated 2.74% so far in 2022, according to the Uruguayan Electronic Stock Exchange (Bevsa).
In this way, the possibility of operating in the CCL futures market in Argentina It represents an important milestone that can derive flow from a much larger market in the number of operations, especially taking into account the oscillations in the neighboring country and the downward trend at the local level.