In the segment wholesalerwhich is the market reference, the price rises slightly ($ 2) to $ 1,363.5. In this way It is extends calm in the official exchange rate after Tuesday the government announced that it will begin to intervene in the Mulc in order to contain the pressures a few day of the legislative elections in the Province of Buenos Aires.
In turn, the Opera official dollar Opera $ 1,380.07 For sale In the average of the financial institutions published by the Central Bank (BCRA).
Meanwhile, in the Nation Bank (BNA), The ticket is quoted $ 1,335 For purchase and $ 1,375 For sale. Thus, the dollar card o Tourist, equivalent to the official retail dollar plus a surcharge of 30% deductible from the income tax, is located in $ 1,787.5.
Among the parallels, the MEP dollar rises 0.5% to $ 1,377.52, while the dollar counted with liquidation (CCL) It does 0.8% to $ 1,382.42. A countermarket, the dollar Blue rises $ 10 to $ 1,360, according to a survey of Scope in the City caves.
For its part, future dollar contracts operate upwards. The “Pricea” market that the wholesale exchange rate at the end of September will be $ 1,406.5 and that in December will reach $ 1,552, which exceeds the band’s roof.
Although the intervention generates uncertainty among the operators, the regulation is seen as a conjunctural at this electoral stage, market sources indicated. “It happens that investors and the IMF are craving to accumulate reserves since this would improve the chances of substantially reducing the country riskwhich could open space to recover access to the rollover of debt in dollars, “said the economist Gustavo Ber.
The Treasury Fire Power in the prior to the PBA elections
On Monday the official exchange rate jumped 2.2% —It despite the holiday in the US since the banks could not buy wholesaler on Friday for ‘A’ 8311. On Tuesday the BCRA began to intervene in the Mulc on account and order of the treasure.
According to PPI, The market estimates that there were official sales for around US $ 130 million on Tuesday YU $ 50 million additional on Wednesday. So, “Sales accumulated since August 12 would already be around US $ 352 million“They stood out from the same report.
Despite this, Treasury’s fire power for the next few days is still considerableAccording to City sources: at the 1st of September, the Treasury dollars in the BCRA were maintained at US $ 1,669 million, being able to be US $ 1,489 million to confirm these sales.
At the same time, in the dollar futures market, open interest increased US $ 55 million on Wednesday, after adding US $17 million on Tuesday YU $ S96 million on Monday. That The total open interest does not be far from the closing of last month (US $ 7,111 million compared to US $ 6,943 million) has A key explanation lies in regulations “A” 8311, which prevented banks from increasing their dollars in dollars on the last day of the month.
“Without the possibility of rolling the shortest position on Friday or buying spot, the banks would have gone out to buy spot on Monday to close the Trade, explaining a good part of the 2.2% rise. In parallel, after that initial climb of 2.2% and the Treasury intervention announcement, the Spot dollar corrected 0.8% on Tuesday and yesterday closed stable at $ 1,361 “, closed from PPI.
In fact on Wednesday, the Secretary of Finance, Pablo Quirnoin an interview with the journalist Antonio Laje, he said that “A Bank of Chinese origin” (in clear reference to the ICBC) with a close position au $30 million, which he accused of “trying to raise the price of the dollar and did so, with a rise of $ 40with a very small volume and that is because of the liquidity in the market. “
Source: Ambito
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