In that line, the financial analyst stressed that this liquidation ended today and that as of Wednesday the market must operate without that continuous offer. In turn, he expressed that he remains to know how much remnant remains of demand, but that “It is very likely that we have to see the treasure again”, or the dollar “back on the roof of the band”.
In front of this panorama, the MEP dollar advanced 2.7% at $ 1,494.02 and the gap against the wholesaler is 8.3%. Meanwhile, the dollar counted with liquidation (CCL) rose 3.2% to $ 1,544.03with an 11.9% spread compared to the official price, which closed to $ 1,380 at the level wholesaler. The volume operated in the cash segment was more than US $ 743.2 million.
For its part, the retail dollar closed to $ 1,351.12 for purchase and $ 1,406.79 For sale In the average of the financial institutions published by the BCRA. Meanwhile, in the BNAthe ticket made it to $ 1,350 For purchase and $ 1,400 For sale. Thus, the Card or tourist dollarequivalent to the official retail dollar plus a surcharge of 30% deductible from the income tax, it was located to $ 1,820.
Future dollar contracts closed with increases of up to 4.4%. The “price” market that, In Decemberthe wholesale exchange rate It will reach $ 1,605. In total, about US $ 1,893 million were operated in future contracts.
On the other hand, the dollar Blue rose $ 15 (1.1%) to $ 1,445 for saleaccording to a survey of Scope in the City caves.
September: the wholesaler climbed 2.8% and parallels advanced up to 13%
He Official dollar He climbed 2.8% ($ 38) throughout September in the wholesale segment, in a month that was marked by ups and downs, after Wednesday 17 played for the first time the band’s roof (then at $ 1,474.3) and closed at $ 1,474.50.
Nevertheless, The exchange pressure dropped considerably last weekafter the government announced zero withholdings for some productsand that the US Treasury confirmed a Financial Salvage for Argentinawhich could include a line of Swap for US $20,000 millionadded to a loan via the Exchange stabilization background (ESF, for its acronym in English) and a series of complementary measures, such as the purchase of sovereign bonds.
Among the parallels, the Blue dollar rose 9.5% ($ 125), while the MEP did it 10.1% and the CCL 13.9%, which leaves the gap with the official dollar at 4.7%, 11.9%and 8.3%, respectively.
For its part, The retail dollar advanced 3.3% in the month in the BCRA Banks averagewhile in the BNA it did 2.9%, as did the dollar card by extension.
This Tuesday, the market remained expectant to a day in which agriculture would contribute, according to estimates, at least US $ 1,300 million. The attention was put on Tuesday as of that flow managed to absorb the treasureby taking advantage of the open opportunity window with the zero withholding scheme. Market sources indicated that the government would have finished the day with a buyer balance of US $30 million.
Last Monday, reserves fell US $ 116 million, although the treasure accumulated currencies through the “block purchases” or “block trades”. It happened because, simultaneously, the national public sector had to make several debt payments to international organizations. Indeed, official sources confirmed to Scope that U $ 334 million were paid during the day. In particular they highlighted obligations with the Paris Clubhe IDB and the CAFfor US $ 116 million, US $ 65 million YU $ S97 million, respectively.
It is worth remembering that at the end of last week the BCRA restored the Cross restriction that prevents people, to buy dollars at the official exchange rate, sell in financial for at least 90 days. In this way, the ruling party intends to cut with the “rulo” through which many individuals with high firepower generated offer in the CCL with foreign exchange acquired in the official market, so that many companies (still Encepada) can cancel debt to a null gap.
“The objective is to reduce the pressure on the official exchange rate just in the final stretch of the liquidation of the dollars committed under the ‘zero retentions.’ In this way, the treasure would be allowed to capture as much as possible of the currencies that liquidate the agriculture. In other words, The government decided to eliminate competition and ensure the flow at a critical moment“, held PPI In a report.
Last Friday, this had been more clearly perceived, since the treasure bought 77% of the “AGRODOLARS” offer. But on Monday the percentage fell considerably.
In this context, PPI warned that “When the extraordinary flow of dollars is exhausted, the exchange jump perspective will grow, as already anticipated by the expansion of the gap“.” The currency supply will be diluted, while the demand, far from disappearing, will be stronger than ever (due to import payments, cancellations of foreign currency loans, formation of external assets and arbitration against the blue dollar, among others), “the entity deepened, who sees a greater hardening of the stocks if the highest pressure on the dollar is confirmed.
Source: Ambito
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