The exchange rate climbed into the wholesale segment, while future contracts advanced this Thursday.
The official dollar rose for the second consecutive day in the wholesale segment In spite of the Supercent of the stock market, one day, which on Wednesday shot up to a peak of 150% and then closed at 70%, which marks the extreme volatility of the last days. Today they are 49.85%.
He Wholesale dollarwhich is the market reference, climbed $ 14 to $ 1,315 and accumulates a rise of $ 22.5 in the last two wheels. In turn, the Retail dollar increased $ 1,325.53 for sale in the average financial entities of the Central Bank (BCRA). In the cash segment a total volume of more than US $ 367.7 was operated.
Meanwhile, in the Nation Bank (BNA) closed to $ 1,325. Thus, the dollar card or tourist, and the savings (or solidarity) dollar, equivalent to the official retail dollar plus a surcharge of 30% deductible of the income tax, was $ 1,722.5.
Among the parallels, the MEP dollar advanced 0.9% to $ 1,321.87, while the dollar counted with liquidation (CCL) It did 1.0% at $ 1,324.36. He dollar Bluemeanwhile, closed $ 1,340, according to a survey of Scope in the City caves.
The contracts of future dollar They operate with a majority. The “price” market that the wholesale exchange rate at the end of August It will be $ 1,333, and that in December It will reach up to $ 1,532. The volume operated in future totaled US $ 1,383 million.
The dollar seeks a balance after the new measures of the BCRA
The president of Dracma Investments, Santiago López Alfarohe said in dialogue with Scope that the exchange rate “did not end up adjusting” after the changes that the BCRA carried out with respect to the management of liquidity of the banks and the high rates.
In that sense, the economist said that the dollar is likely to be held within the current range to the mid -term elections, away from the peaks that marked at the end of July from the surveys that indicate a good result for the ruling at the polls.
The volatility of short rates conditions calibration in liquidity
Market sources noted that The volatility of short rates acts as a condition in the search for calibration in the liquidity of the money marketbeyond that the dollar does not accuse too many impacts and remains stable within the strip of $ 1,300.
The Chief Investments Officer of Wise Capital, Ignacio MoralesHe pointed out that unlike what happened Monday and Tuesday, when the lack of bank demand collapsed the rates towards the end of the wheel, the speculation predominated on Wednesday.
“The operators took advantage of the intradiary oscillation to operate and look for fast profits”while “the BCRA reacted by taking out the banks of the Caión market and redirecting the surplus of pesos towards plaocations in the entity”, despite the fact that the expectation of a new fall of rates kept the tension until closing.
Source: Ambito
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