The official wholesale dollar closed above $ 1,200, something that had never happened since the new exchange scheme with flotation bands began. It happened after the JP Morgan recommendation to abandon the “Carry Trade” strategies and an unfavorable failure for Argentina for the nationalization of YPF.
The wholesale exchange ratewhich is the market reference, It rose $ 16 (+1.4%) to $ 1,205 This Monday, June 30, practically in the exact center of the bands. In this way, in the monthly accumulated he presented an almost identical advance, of $ 17.
“After the ruling that forces the government to deliver 51% of YPF’s shares to those affected by the expropriation, the exchange rate rose $ 15,” he said Nicolás Cappellato invest in the stock market.
The futures accompanied the trend of the officer by registering advances in all their contracts. For the second semester the market “Price” an average monthly adjustment of 2.6% in the wholesaler.
In the same tune, the dollar Retail increased $ 13.25 to $ 1,217.87 for sale In the average of the financial institutions published by the Central Bank (BCRA). Meanwhile, in the National Bank The ticket operated stable to $ 1,155 for purchase and $ 1,205 for sale.
For its part, the dollar CCL It rose $ 6.99 a $ 1,210.25, while the MEP He climbed $ 13.56 a $ 1,211.10. The blue dollarMeanwhile, $ 5 to $ 1,215according to a survey of Scope in the City caves. In this way, the parallel gaps with the officer were between the 0.4% and the 0.8%.
The American justice failed against Argentina
The American judge Loretta Presska ordered Monday that the Argentine State must transfer 51% of its actions in YPF to the beneficiary vulture funds of the country’s ruling for nationalization of the oil company, carried out in 2012 by the then Minister of Economy, Axel Kiciloff.
This decision is part of the case promoted by the Burford Capital Fund, under the claim that, according to article 7 of the YPF Statute, if someone bought more than 15% of the company should offer the same to all shareholders and not just Repsol. In 2023 Period made a sentence in favor of the private ones, urging a compensation of more than US $ 16,000 million.
It is worth noting that YPF itself is not part of the trial but is a dispute loot, given the maturation of Vaca Muerta, which allowed Argentina to reverse its energy balance in 2024.
Recommendation of JP Morgan, withholdings and review with the IMF
On the eve of this start to the local markets, the JP Morgan spread a report in which he recommends investors significantly reduce their exposure to bonds in pesos and go to dollarsin the face of the electoral context, the deficit of external accounts and the end of the thick harvest.
Last week the government formalized the extension of retention of retentions for barley and wheatbut soybeans and corn will pay the full export rights again from this week. The soy will be taxed by current 26% to 33% from July 1, corn and sorghum, among other products, from 9.5% to 12%, and sunflower will go from 5.5% to 7%.
On the other hand, in the market the expectation for the approval, or not, of the first review of the IMF on the new agreement for the debt. “I think they will forgive the breach of the reservation goal even if they ask for more later“Claudio Loser, former director of the IMF for the western hemisphere, told Reuters.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
