The volatility on the dollar remains at the close of the week, with the currency having recorded his third consecutive increase last wheel. Even with a new intervention by the US Treasurythe appetite for the currency did not stop among investors, who expect a change in the post-election exchange rate regime.
During this Friday morning, the North American ambassador to Argentina, Peter Lamelashe advanced: “We will soon have great news that will further strengthen the economic alliance between Argentina and the United States.”
A key element of the day will be the injection of $2 billion into the systemas a result of the Treasury renewing only 45.7% of the maturities on Wednesday, a situation that should reduce the volatility of rates in pesos. This Thursday, the bond closed at 20%, after reaching a maximum of 93%.
The pressure on the dollar does not stop
“The rumors that local banks had sold dollars on behalf of and at the order of the foreign entity, far from calming demand, fueled it,” they said from PPI.
The dollar wholesale yesterday increased $22 to $1,402with a maximum intraday of $1,430and with an operated volume around US$676 million, smaller than the previous wheel, which was located near the US$750 millionaccording to market sources.
Meanwhile, the dollar in the Nation Bank went up $20 to $1,425 for sale, after hitting an intraday high of $1,440. In the general average carried out by the Central Bank within the retail segmentthe quote marked the $1,441.97.
For their part, financial dollars also rose strongly. He MEP dollar rose 2.2% to $1,473.52, while the Cashed with Settlement (CCL) climbed 2%, up to $1,491.34. and the blue dollar rose $20 to $1,460 for sale.
Looking ahead to the elections
The next six days until the legislative elections on October 26 will be decisive to anticipate the next movements within the exchange market. For now, the announcements fail to dispel the climate of uncertainty that dominates the square on the future of the exchange rate scheme after the elections on October 26.
Despite the sale of dollars by the organization in charge of the Treasury Secretary Scott Bessentand the fact that he even opened an account to operate in the futures market, as the days went by the idea was once again consolidated in the market that There will be a change within the exchange rate regime after October 26.
Source: Ambito
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