While, the MEP dollar -also valued with the Global 2030 bond- fell 1.5% to $195.72, leaving a spread of 78.9%.
The economist Gustavo Ber pointed out that “at the foreign exchange level, the positive balances of the BCRA interventions are providing relief to reserves, also helped by the greater pace of the ‘crawling-peg’ and the successive rises in rates on the way to the yield target positive reals. The calm also extends among the financial dollars, already looking to break the $ 200, before increasing bets towards the ‘carry-trade’ in order to take advantage of this tactical opportunity”.
“In coordination with the Central Bank and the Ministry of Economy of the Nation” the lifting of the obstacles adopted by means of general resolutions 907 and 911which, as highlighted by the body, had been issued in response to “exceptional circumstances and on a temporary basis.”
The confirmation of the good news for savers came through general resolution 923 of the National Securities Commission (CNV) published on Saturday in the Official Gazette.
The rule repeals general resolutions 907/2011 and 901/2011, which set a weekly quota of 50,000 nominal for the operations of the Settlement and Compensation Agencies (ALyC), mainly arranged with AL30 bonds.
However, as they clarified from the BCRA, “the rule that requires operating against a bank account is maintained”, so that the funds must leave and return to a bank account.
In February, stock prices had fallen by 10.1% ($22.43), in the case of the CCL, and by 8.5% ($18.17), in the case of the MEP.
For his part, the blue dollar rose for the first time in five days this Tuesday, March 8, 2022according to a survey carried out by Ámbito in the Foreign Exchange Black Market.
After falling $10 in the short last week, in what was its biggest weekly drop in more than 15 months, and reaching close to $200 at the beginning of this week, the parallel dollar climbed $1 on this wheel to finish at $202. This way, the gap with the official amounted to 86.1%.
The uncertainty prior to the announcement of an understanding between Argentina and the IMF over the debt had caused the blue dollar to skyrocket, reaching $223.50 on Thursday, January 27, its nominal historical maximum so far. Since then, he accumulates a low $23.
official dollar
The dollar today -without taxes- rose 20 cents to $114.06, according to the average in the main banks of the financial system. In turn, the retail value of the currency at Banco Nación remains stable at $113.50.
The Central Bank (BCRA) bought US$60 million, with which so far in March it accumulates a balance of more than US$450 millionto the best result for this concept in the last four months, a fact that may encourage expectations of an incipient recovery of reserves in a scenario of less tension, in the midst of the legislative debate of the agreement with the International Monetary Fund.
From the market, they point out that this positive balance on the part of the BCRA occurs in a context that may be under the influence of different situations: fear of increased withholdings or a context of greater calm in relation to the presentation of the agreement with the IMF in the Congress. In addition, they indicated that another additional factor may be the recent rate hike.
“With a very limited demand due to the current restrictions to access the market and, with the significant contribution of the improvement in the income of the agro-export complex, the Central Bank manages to generate a very friendly environment so that the process of accumulation of reserves is intensified in the start of the second two-month period of the year,” said analyst Gustavo Quintana.
For its part, the wholesale dollar rose 12 cents and -in this way- in the first two days of this week it accumulated a rise of 43 centsa rate of adjustment for now in line with the management process of its evolution recorded in recent months.
In relation to the agreement with the IMF, President Alberto Fernández met this Tuesday at the Casa Rosada with governors and deputy governors who, after a meeting with the chief of staff, Juan Manzur, went to the Chamber of Deputies to present in the plenary of commissions.
The meeting with Manzur, who accompanied them to the Legislative Palace, It is part of the “actions of the National Government to generate the necessary consensus to advance in the approval of the agreement with the IMF”it was officially stated.
According to official sources, the meeting -which took place in the Eva Perón room- was attended by the presidents Ricardo Quintela (La Rioja), Raúl Jalil (Catamarca), Osvaldo Jaldo (Tucumán), Gustavo Sáenz (Salta), Sergio Ziliotto (La Pampa ), Sergio Uñac (San Juan), Gustavo Bordet (Entre Ríos), Oscar Herrera Ahuad (Misiones), Mariano Arcioni (Chubut), Omar Gutiérrez (Neuquén) and Omar Perotti (Santa Fe). Deputy Governors Carlos Silva Neder (Santiago del Estero) and Eugenio Quiroga (Santa Cruz) were also present.
After this meeting, the provincial leaders were received by the head of the Chamber of Deputies, Sergio Massa.
For its part, the conflict in Ukraine triggered a rise in international oil prices, which reached their highest level since early 2008, fueling fears of higher inflation and lower global economic growth.
During the trading session, prices returned to settle within the range established by the monetary authority from the beginning of the day and remained unchanged until the end of the session.
Highs came in at $108.56 with the first trade agreed, 12 cents higher than the previous finish. The supply prevailed again in the development of the operations and kept the price variation limited, which reached a minimum of $108.55 in mid-morning. The excess supply was once again taken advantage of by the Central Bank with purchases that kept the price at the low of the date and absorbed all the available surplus of foreign currency in the sector where banks and companies operate.
Source: Ambito
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