For its part, the MEP dollar or “Stock Market” fell 0.4% (-89 cents) to $203.03which left a spread with the wholesaler of 90.3%, the lowest figure since last December 28.
Since the announcement of the understanding with the IMF, on January 27, the CCL has accumulated a drop of 10% (-$23.25), while the decline of the MEP is 8.5% (-$19.02).
This Thursday the BCRA raised all monetary policy rates. The annual effective yield of the Leliqs that the monetary authority offers to the banks went from 48.3% to 51.9%. Likewise, the return on fixed terms went from 46.8% to 50.4%.
With these corrections, the rates were located at a level similar to those validated by the Ministry of Economy in the last auction of debt in pesos. Thus, the Government seeks to promote savings in local currency and discourage the search for exchange coverage, although the idea is that the Treasury pays even more than the monetary authority; For this, it is necessary to see what the strategy will be in the next placement of public titles.
In parallel, the Executive Power works against the clock in the elaboration of the bill with the details for the agreement with the IMF. “We understand that it may be soon” to send the project to parliament, presidential spokeswoman Gabriela Cerruti said at a press round.
“We are going to reach the best possible agreement that will allow in some way to give a beginning of a solution to the largest debt that not only Argentina contracted, but also the largest that the IMF gave,” he said.
It is worth remembering that the country must pay a due date in March with the multilateral credit organization for some US$2.9 billion and another US$2.0 billion with the Paris Club, at a time when the central bank (BCRA) does not It has the necessary liquid reserves.
official dollar
In the official wholesale market, the exchange rate directly regulated by the BCRA advanced nine cents to $106.67. The weekly rise is on track to be lower than last week.
The level of operations of the day was the lowest since the beginning of the year. In that context, the monetary authority already adds more than two weeks without selling foreign currency; This Thursday ended with a neutral balance.
Market sources maintained that given the intermediate period between the fine harvest and the thick harvest, which reduces the country’s foreign currency income, controls on imports were increased.
“As has happened on other occasions, the dollar price management strategy followed by the control authority alternates weeks with strong adjustments with others of some moderation. The Central Bank adds to today’s twelve consecutive days without net sales in the foreign exchange market, and maintains the positive balance for the month at almost US$100 millionabout to exceed the amount of losses recorded in the previous month,” said Gustavo Quintana, of PR Corredores de Cambio.
For its part, the savings dollar or solidarity dollar -retail plus taxes- increased just five cents to $185.20 on average.
The blue dollar fell to a low of the month this Thursday 17 February 2022, according to a survey carried out by Ámbito in the Foreign Exchange Black Market. In this way, the price racked up six wheels with no raises.
After two days without changes, the informal dollar fell to $1 to $214. Even so, it is still the most expensive exchange rate on the market since the CCL does not stop its downward march and is already close to $210.
The spread between the blue and the wholesale exchange rate, which is directly regulated by the Central Bank, it fell to 100.6%, the lowest level since January 10.
Source: Ambito
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