“The blue is adapting to what the CCL and the MEP did in the previous weeks. These had already gone down a lot, probably because they operate in more transparent and larger markets,” Financial analyst Christian Buteler told Ámbito.
The expert noted that at the beginning of each month the liquidity needs in pesos grow, for which to obtain them dollars are sold “at the market price”, which is better reflected in the Stock Exchange’s operations.
Walter Morales, president of Wise, agreed that “the drop in blue was expected as it follows the footsteps of financial dollars.” “Parallel exchange rates were expensive in light of the IMF deal that is just around the corner, and the potentiality of the swap with China,” he said.
In this context, the economist warned that blue is unlikely to break $200 on a sustained basisbecause “it has already dropped quite a bit” and taking into account the current levels of inflation and adjustment of the wholesale exchange rate.
After the collapse of the price, the spread with the official dollar, which is directly regulated by the Central Bank, fell to 88.8%, the lowest since October 20, 2021.
It is worth remembering that the uncertainty prior to the announcement of an understanding between Argentina and the IMF for the debt had caused the blue dollar to skyrocket, reaching $223.50 on Thursday, January 27. Since then, it has accumulated a crash of almost $20.
This Thursday the Government announced the reaching of an agreement with the staff of the multilateral credit organization for the renegotiation of a debt close to US$45,000 million. The deal does not contemplate structural reforms, but it does contemplate a process of fiscal consolidation to approach a balance by 2025.
As for energy rates, the higher-income sectors would pay the full rate from now on, that is, they would not receive subsidies. At the same time, the beneficiaries of the social rate would have an increase limit equivalent to 40% of the variation in wages in the last year, while the remaining population would receive a rise equivalent to 80% of the movement of the Salary Variation Coefficient (CVS) .
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
