What will happen to the price of the blue dollar
“The blue dollar 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 the blue dollar was expected since 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.
the financial analyst Salvador diStefano It went further: the blue dollar could break the $200 floor and be offered between $190 and $195, a value that financiers are currently hovering around.
In any case, predicting what will happen to the blue dollar in the coming days is not that simple. In real terms, considering inflation, today the currency in the parallel market is “cheap”, so a new upward adjustment could not be ruled out.
It is not a minor fact that last week’s sharp drop in the blue dollar occurred at the beginning of the month. And it is that many companies buy dollars in the formal market and then liquidate them in the informal market and thus reinforce their liquidity when they must pay salaries. In other words, there is a greater presence of sellers, which increases the offer and lowers the price.
official dollar
Meanwhile, in the retail market, the currency is sold at an average of $114.47, while the savings or solidarity version of the North American currency is offered at $186.86.
The financial dollars remained low: the cash with liquidation operates at $200.73 and the Stock Exchange or MEP, at $196.69.
The Government announced that from next Monday it will eliminate the weekly limit of 50,000 nominal values for the purchase of financial dollars or liquidation of debt securities in dollars under local legislation, in line with what was agreed with the IMF.
Investors will be able to buy the so-called MEP dollars or Stock Exchange and Cash with Liquidation (CCL) with bonds issued under local law without this implying an obstacle to carry out transactions with other assets.
The measure ordered by the National Securities Commission (CNV), in coordination with the Central Bank and the Ministry of Economy, relaxes the restrictions to buy dollars on the Stock Exchange.
Source: Ambito
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