After a favorable result for the Government in the legislative elections, the stock market recorded a day of euphoria with double-digit gains. The upward trend in stocks coincided with a marked fall in the dollar in all areas of the market, although The decline moderated as the hours passed.
The volume traded in the cash segment reached US$405.4 million, approximately half of what was negotiated in the last two weeks. In that framework, the The wholesale dollar operated from low to high: in the early hours of the day it reached a minimum of $1,350—a drop of $142 or 9.5% compared to Friday—its lowest value in a month, but closed at $1,435, with a decrease of $57 or 3.8%.
The Central Bank set the ceiling of the exchange rate band at $1,494.04, about $59 (4.1%) above the official exchange rate. In the retail segment, the public dollar closed at its highest value of the day, at $1,460 for sale at Banco Nación. After hitting a floor of $1,370 (-9.6% intraday) in the morning, the currency limited the daily decline to $55 or 3.6%. According to the Central Bank’s average among the main entities, the note ended at $1,451.78 for sale (-4.3%) and $1,384.20 for purchase.
“From an economic perspective, the result improves the conditions for an eventual adjustment of the exchange rate scheme, aimed at allowing greater flexibility and accumulation of reserves, in a context of less political uncertainty and with the support of the United States Treasury,” the analysts from Balanz Capital.
“From the extreme dollarization with which the agents entered the elections, the first reaction of the wholesale dollar was to weaken strongly – up to 10% -, since the most encouraging expectations decompress the pre-electoral tensions. To the extent that the political and economic panorama improves, demand should weaken and supply increase, which would allow us to anticipate a scenario of greater exchange stability and progress in the process of disinflation,” said the economist Gustavo Ber.
In the segment bluethe dollar attached its movement to the variation of the dollar to the public. Thus, the informal bill closed at $1,465, with a drop of 60 pesos or 3.9%with a minimum of 1,400 pesos.
Ignacio Morales, Chief Investment Officer of Wise Capital, considered that “the electoral result dissipates the short-term pressures on the exchange rate and rules out, for now, a transition towards a freer floating scheme, although doubts persist about possible adjustments in the limits of the exchange bands. Analysts anticipate greater stability in the different quotes and a pause in devaluation expectations.”
How much is the blue dollar trading at today, Tuesday, October 28
He blue dollar fell $60, to $1,445 for purchase and $1,465 for saleand the gap with the official exchange rate was located at 2.1%.
MEP value today, Tuesday, October 28
He MEP dollar go down to $1,455.46 and the gap with the official dollar is located at 1.3%.
Value of the CCL dollar today, Tuesday, October 28
The dollar Cash with Settlement (CCL) operates at $1,461.47 and the gap with the official dollar is 1.8%.
Price of the dollar card today, Tuesday, October 28
He dollar card or touristequivalent to the official retail dollar plus a 30% surcharge deductible from Income Tax, was positioned in $1,820.
Quote of the crypto dollar today, Tuesday, October 28
The crypto dollar or dollar Bitcoin quotes at $1,448.45according to Bitso.
Bitcoin value today, Tuesday, October 28
Bitcointhe most popular cryptocurrency on the market, operates in the US$115,506according to Binance.
Source: Ambito
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