The dollar He rises on Tuesday in the wholesale segment, and is consolidated above $ 1,430 in the Nation Bank (BNA) After suffering a strong bullish pressure on the previous day when The market brought at prices the electoral defeat of La Libertad advances in the legislative elections in the province of Buenos Aires at the hands of Patria Force.
At the wholesale level, the official dollar closed to $ 1,416.5 for sale, while it operates $ 1,384.05 for purchase and $ 1,436.31 For sale In the average of the financial institutions published by the Central Bank (BCRA). The volume operated in the cash segment was almost US $ 402.2 million, in a low volatility wheel and without apparent official intervention, according to market sources.
Meanwhile, in the BNA, the ticket is traded at $ 1,375 for purchase and $ 1,425 for sale. He dollar card or tourist, equivalent to the official retail dollar plus a surcharge of 30% deductible from the income tax, was located in $ 1,852.5.
He dollar Blue is sold to $ 1,395according to a survey of Scope in the City caves. The types of financial changes fall: The MEP dollar quotes at $ 1,424.33 And the gap against the wholesaler is 0.5%, while the dollar counted with liquidation (CCL) operates at $ 1,431.82so the gap is 1.0%.
Future dollar contracts operate in their entirety. The “Price” market that the wholesale exchange rate at the end of September will be $ 1,445 and that in December will reach $ 1,599, which exceeds the band’s roof. In total about US $ 1,436 million were operated this day.
“The model was left without a gasoline before the elections”
The director of Economy of Fundar, Guido Zackhe pointed to Scope that it was evident that there would be exchange tension after the elections in PBA, since although the government “falls good to the market” for “taking the Argentina to a fiscal balance, or something that is like “, He did not accumulate reservations in his intention for containing the exchange rate prior to the electoral instance.
The specialist also remarked that “The model was left without a gasoline before the elections” For several reasons, including the exit of the stocks with a low exchange rate and the united errors such as the elimination of the Lefis and the consequent loss of reference of the interest rate “by the roller coaster in which it entered.”
This Tuesday, the Caution rates In one day pesos, market reference, operate at 37.16%, seven days do it at 38%and a month reach 47%, after days of intense volatility in the weeks prior to the elections.
“Besides, He released a lot of pesos that, in the face of this volatility of fees, did not know where to go and the natural refuge in an electoral year was the dollarthis is already added corruption cases, “Zack said.
On the other hand, Zack said that the problem is that the government bet everything on a good electoral result, without accumulating reservations, but that Electoral defeat generated a country jump and further complicated Argentina’s position when facing the next expiration of important debt in January next year.
The market reacted adversely to PBA elections
In that line, the chief economist of SBS group Juan Manuel Franco He said: the market adversely reacted to the results of the legislative of the PBA, with 16.4% falls for the Merval in CCL and 8% average for Bonds in dollars New York Law. The dollar rose 4%, but remained inside the band, while the dollar futures rose throughout the curve “.
For the expert, the situation is “very challenging” for the Government, which “must face costs whatever the direction it takes, and must administer them.” For the City, It will be key to follow the dynamics of the dollar and see what the government does if the price presses on the band’s roof. “While there are liquid reserves in the BCRA to deal with pressures, net reserves are negative, since the liquids were leveraged by the IMF loan,” Franco completed.
From Max Capital They pointed out that last Monday, The dollar “rose less than expected, partly because exporters closed positions to take advantage of Friday’s exchange rate in the calculation of withholdings”. In turn, they understand that the American currency “still has a bullish route.”
“The generalized vision among foreign investors was that the ideal policy response was not to interveneletting the currency absorb the adjustment, “they added.
Yesterday, the Treasure announced the conditions for the first tender of the month, facing maturities for $ 7.2 billion. The offer will include three Lepas with expiration in October, November and January 2026, two Linked dollar bonds expiring in October and December, a tamar bonus with expiration in December and a expiration bonce in March 2026.
Source: Ambito
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