On a day with a lot of volatility and high volume of operations, the official dollar ended with a relevant increasewhile the market awaits the first review of the agreement with the International Monetary Fund (IMF). Financials replicate promotions.
The wholesale exchange ratewhich is the market reference, He climbed $ 17 to $ 1,191.50 This Wednesday, June 25. It was his higher percentage adjustment (+1.5%) since May 29.
Operator Gustavo Quintana suggested that there must have been some important purchase order, since “Today’s volume is not repeated since April 30”.
In tune with the officer, Future dollar contracts also threw relevant increaseshighlighting fundamentally increases of more than 1% in the shortest deadlines. The “Price” market that the wholesale exchange rate will rise 2.9% in July and that from here at the end of the year will climb 15%.
For its part, the dollar retail He operated to $ 1,147.72 for purchase and $ 1,191.86 for sale In the average of the financial institutions published by the Central Bank (BCRA).
Meanwhile, in the National Bank The ticket climbed $ 10, to $ 1,155 for purchase and $ 1,205 for sale.
As for the types of financial changes, the MEP dollar It grows $ 11.25 a $ 1,192.88 and the spread with the officer is at just 0.1%. While andThe dollar counted with liquidation (CCL) Increase $ 7.07 a $ 1,194.58 and the gap is set at 0.3%. The blue dollar, meanwhile, gave $ 1.210according to a field survey in the City caves.
In the last sessions the BCRA intervened with forces in the round of futures to keep the exchange square stabilized, operators agreed.
Expectation for the first review of the agreement with the IMF
It happens while an IMF mission is located in the country to carry out the first review of the new agreement. While the government keeps its fiscal discipline, one of the demands of the agency is far from meeting the reserve goal.
However, some analysts argue that the important fiscal deficit that President Javier Milei conquers the support of the markets and obtains the applause of fund leaders.
“I think they will forgive it (breach of the reservation goal) although they ask for more later“Claudio Loser, former director of the IMF for the western hemisphere, told Reuters.
This would probably be completed in a “forgiveness” (or Waver for its expression in English), approving the first review of the program, for which on Tuesday a technical team of the agency arrived in the country.
Last week, the government announced that it would deepen the adjustment to reach a surplus goal of 1.6% of GDP. The Minister of Economy, Luis Caputo, said at the beginning of the month that the accumulation of reserves was no longer as important as before, with given the current exchange scheme of flotation bands and a capitalized central bank.
Within that framework, the BCRA still does not intervene in the change market. International gross reserves ended Tuesday at US $ 41,218 million, which represents an increase of US $ 331 million compared to Monday.
Source: Ambito
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