“Argentina It is a systemically important ally from the US in Latin America, and The US Treasury is willing to do whatever necessary within its mandate to support Argentina“said the secretary of the US Treasury, Scott Besent.
Through his “X” account, the official of Donald Trump It was categorical to maintain that “All stabilization options are on the table.” He also said that these options may include SWAP lines, direct currency purchases or public debt called in US dollars of the exchange stabilization fund of the treasure.
In that context, the dollar wholesalerwhich is the market reference and by which the agro -exporters liquidates, it falls and sells to $ 1,405, after opening to $ 1,475 and descending to $ 1,420 in running the wheel.
In this regard, the economist Federico Glustein pointed to Scope That the options within the planned aid may include, among others, SWAP lines, Degs, direct currency purchases, as well as government debt purchases called in dollars of the dollars of the dollars of the dollars Treasury exchange stabilization background.
In that sense, the expert recalled that, in general, These types of programs impose conditions such as fiscal adjustment and rise in interest ratesso in the Argentine case it could mean continuing with the fiscal adjustment, but “more flexible exchange bands and some guarantees, such as export rights, royalties or state assets.”
Glustein said that The idea in this case is not to need the amount in its entirety, as happened in Mexico after the Tequila effectalthough later they asked for reinsurance the liquid royalties of Pemex And they will pay it quickly. “I understand that it will not be the entire disbursement at once, but by sections,” said the economist, who understands that this “will require the acceptance of the ‘seniority’, that is, of the priority over other creditors.”
As for the dollarhe argued that this “It will tend to go down” for calm in expectationsbut then he will “support the maturities in the short term to dissipate existing doubts, lower the country risk and give certainty.”
In the morning, market sources indicated that The monetary authority was ready to defend the roof of the band, which is currently located at $ 1,476.8, with an offer of US $200 million. However, they advanced that “After the retentions of temporary low ads, a lot of private offer began to appear ahead of the band’s value”.
For its part, the Retail dollar quotes $ 1,408.18 for purchase and $ 1,467.80 For sale In the average of the financial institutions published by the Central Bank (BCRA). Meanwhile, in the BNAthe ticket is done to $ 1,390 For purchase and $ 1,440 For sale. Thus, the Card or tourist dollarequivalent to the retail official dollar plus a surcharge of 30% deductible from the income tax, it is located $ 1,872.
Among the parallels, the dollar Blue falls $ 45 to $ 1,475 for saleaccording to a survey of Scope in the City caves. For its part, the Dollar MEP goes back 5.8% to $ 1,461.22 and the gap against the wholesaler is 3.6%. Meanwhile, the dollar counted with liquidation (CCL) drops 6.2% to $ 1,470.37with an 4.4% Spread compared to the official price.
Dollar contracts operate with a majority. The “price” market that the wholesale exchange rate at the end of September will be $ 1,394, and that In December it will reach up to $ 1,526which exceeds the roof of the band.
Remove Agro withholdings
In the morning, it was known that there will be removal of retentions until the end of October. He decree states that those who export The products achieved must liquidate at least 90% of the currencies obtained within three business days after the DJVEeither by charges, advances of liquidation or external financing.
“This scheme could help modehe said to Scope, Mariela BrandolinFinancial grain and investment market consultant.
For this expert, The elimination of retentions will generate an immediate impact on the grain market. With this change, soybeans could record a rise close to US $ 15 per ton, while corn and wheat would have an estimated increase of about US each.
“However, The full effect of these improvements could be attenuated In the event that producers decide to sell large volumes immediately, since A significant increase in the offer would press prices“He said and expanded:” Anyway, It is a clearly favorable scenario, which will drive producers to specify sales“
Brandolin says they still have to liquidate: 23.4 million soy tons, and 26.4 tons of corn, approximately US $ 15,000 million.
Source: Ambito
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