In the same way, The MEP dollar -also valued with the Global 2030 bond- also fell 1.2% (-$2.21) in this session and 5.2% (-$10.19) in the week to settle at $187.41 , for which it closed below solidarity for the first time in six months. The gap sank to 72.1%, the lowest since the end of July last year.
The collapse of stock prices was due to several factors: the recent accumulation of foreign currency by the BCRA, the elimination of obstacles to the operation of dollars in the Stock Exchange, the acceleration in the rate of devaluation and the rise in rates, all in the framework of reaching a deal with the IMF.
The refinancing of the debt with the multilateral credit organization was approved by the lower house in the early hours of this Friday, and now it must be ratified by the Senate.
The new agreement establishes a grace period of four and a half years and extends disbursement payments to 10 years, so the country will begin to pay off the debt in 2026 and end in 2034.
Likewise, the extended facilities agreement does not include structural reforms but will require meeting fiscal, monetary and reserve accumulation goals, all issues that would be addressed in the quarterly reviews of Fund officials.
“The climate of greater calm is spreading from the currency purchases that the BCRA has been making in the last few rounds, and this represents a timely relief for net reserves,” said Gustavo Ber, an economist at Estudio Ber.
“This stage of calm is reflected in the financial dollars, still in decline and thus narrowing the gap due to the contribution of arbitrations in favor of carry-trade. This dynamic could extend over time towards a next scale of 60% in case of successfully advancing in the implementation of the agreed strategies on the way to a convergence in macro imbalances,” he said.
official dollar
In the wholesale segment, the currency advanced 11 cents this Friday to $108.88. In this way, in the week it accumulated an increase of 75 cents (0.7%), the second highest during the last year, behind the adjustment that the official had in the second week of February.
The Central Bank ended its intervention in the foreign exchange market with a new positive balance, this time of US$5 million, for which during the week it accumulated, in net terms, US$375 million, which led the amount for the month to exceed $465 million.
“Without many expectations of changes, the second half of March is heading to present a similar scenario to the current one, with few doubts until today that the monetary authority would close the month with a new recovery of international reserves,” projected Gustavo Quintana, from PR Corredores exchange.
For his part, the savings dollar or solidarity dollar -retail plus taxes- rose 18 cents to $188.91 on average this day.
The blue dollar recorded a new low this Friday, March 11, 2022, with which it added its second consecutive fall, according to a survey by Ámbito in the Black Foreign Exchange Market.
After dropping $1.50 on Thursday, the informal dollar fell another $1 to end the week at $202with which the gap was reduced to 85.5%.
Compared to last week’s close, the price climbed $1, although so far in March it has accumulated a drop of $10.
Source: Ambito
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