He dollar official He advanced in the wholesale and retail segments before the rise of rates, while the financial ones fall into the prelude to a key tender for the National Treasuryon a day where the Ministry of Economy of Luis Caputo It will seek refinancing maturity for $ 7.2 billion.
In the wholesale segment, the dollar climbed another $ 7 to $ 1,423.5 and scored a new historical nominal record, after climbing $ 68.5 in three days, from the forceful defeat of the government in the elections of the elections of the Province of Buenos Aires.
He Central Bank (BCRA) This week began to compress the level of taking, after aspiring 45% pesos on Monday, that on Tuesday it did 40% and today dropped to 35%. ANDl Government “tests” a lower rate level at times where from the City they warned that Industrial activity cools more and more. However, a lower rate could increase the demand for coverage and be an extra pressure on the American currency.
On the other hand, in the average of financial institutions prepared by the BCRA, the Retail exchange rate It was $ 1,384.09 for purchase and $ 1,436.17 for sale. The operated cash volume exceeded US $ 387.16 million. In it Nation Bank (BNA) closed $ 1,385 for purchase and $ 1,435 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 $ 1,865.5.
Among the parallels, the MEP dollar 0.4% retreat to $ 1,425.61, while the dollar counted with liquidation (CCL) It did 0.4% to $ 1,433.85. Also, the dollar Blue rose $ 10 to $ 1,395 for sale, according to a survey of Scope in the City caves.
For their part, the dollar contracts closed with a majority. The “Price” market that the wholesale exchange rate at the end of September will be $ 1,446.5, and that in December will reach $ 1,583, which exceeds the band’s roof. In total, contracts for US $ 1,325 million were operated.
From ADCAP They stressed that the futures opened in line with the spot, offered to a large extent, a position that was not modified despite the rise near the closure, which generated that the curve compressed the implicit rates and closed away from the level of 50% observed in recent weeks and closer to 30%.
They also reported that The BCRA was active again along the wheelwith relevant sales in the contracts DLR/Oct25 and DLR/May26, which presented an increase in open interest of 55,000 and 44,000 contracts respectively.
The economist Joaquín Waldman remarked to Scope that the jump of country riskwhich last Tuesday was at 1,070 basic points, impacts the cost of domestic financing, both for the State As for companies, something that could directly affect credit.
“The Net Heritage position of the BCRA is quite bad”
As for the bulky debt maturities that must face the ArgentinaWaldman stressed that “The BCRA problem is that you are not buying reservations” and? “The position in the Net Heritage of the Central is quite bad”. “While it has liquidity in dollars that I could use to contain the exchange bands, because for that they asked the IMF, they are not incorporating new dollars that allow them to improve the solvency in the medium term,” he added.
On Wednesday’s wheel, The wholesale exchange rate is such as 3.6% of the band’s roof ($ 1,470.9)the slightest margin since the beginning of the current exchange rate scheme.
For its part, the economist Gustavo Ber He pointed out that the wholesale exchange rate “continues expectantly around $ 1,420”, beyond the sudden replacement of liquidations, referring to the almost US $ 224.2 million entered by cereal and oilseed exporters on Monday, and the more than US $ 96.8 million on Tuesday.
Source: Ambito
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