In the same way, the MEP dollar -also valued with the Global 2030 bond- fell 1% (-$1.81) to $185.60. The gap pierced 70% for the first time since June last year.
“The approval of the agreement with the IMF in Deputies moves us away from a disruptive scenario and the greater liquidation of agriculture left better prospects in terms of foreign exchange accumulation. However, the latest government measures to the agro-export sector will probably impact foreign exchange earnings. The Government suspended this weekend the suspension of the export of soybean meal and oil, a measure prior to a probable rise in withholdings on both by-products (from 31% to 33%), “they highlighted from PPI.
On the other hand, they indicated from the consultant that “the treatment of the agreement within the Senate will not be an easy task either. With the half sanction of Deputies, the project entered the Upper House and begins its treatment on Monday in the Budget and Treasury Commission with the aim of sanctioning it before the end of the week. The times run seven days before the due date with the IMF itself on March 21. Let us remember that the scarcity of net reserves in the BCRA and the sum of needs to be paid in dollars force us to hurry up the matter. The Government faces maturities for US $ 2,879 million to the agency on Monday of next week “.
Economist Gustavo Ber stated that “the foreign exchange market remains oblivious to external and internal fluctuations, and so the BCRA takes the opportunity to add reserves in the face of greater settlements by exporters, although attentive to said dynamics as a result of rumors of new withholdings.”
He stressed that “in the face of this expectation, it is that the financial dollars feint with a respite after the sharp recent decline, fueled by greedy operators seeking to make the most of the returns in dollars of the ‘carry-trade’, even recognizing the risks of these tactical bets” .
official dollar
In the wholesale segment, the currency rose 42 cents to $109,200 on Monday. Last week, it closed up 75 cents, the highest weekly correction since the one that ended last February 11.. In this way, the monetary authority accelerated the rate of devaluation.
In this round, the good performance of genuine revenues and the low entity of authorized demand once again generated a very propitious scenario for official objectives.
The Central Bank bought another US$92 million, after accumulating a positive balance of US$375 million last week; while so far this month it adds up to almost US$560 million. It happened in a round in which the market remains attentive to the beginning of the debate in the Senate of the project in agreement with the International Monetary Fund (IMF), which already has half a sanction from the lower house.
The economist Gustavo Ber stated that “the foreign exchange market remains oblivious to external and internal fluctuations, and so the Central Bank takes the opportunity to add reserves in the face of greater liquidations by exportersalthough attentive to this dynamic as a result of rumors of new retentions”.
“The closure of the export registry of some derivatives and by-products of cereals did not have an impact on today’s activity, but it is not ruled out that a modification in the withholding regime activates protest mechanisms from the agro-export sector, something that could conspire against the intention of maintaining the current rate of recovery of reserves,” said analyst Gustavo Quintana.
Highs for the day were made early in trading at $109.21, 33 cents higher than the previous end. Income from abroad increased during the course of the day, putting downward pressure on the price that made it hit a minimum of $1,091.19, prior to the appearance of the Central Bank in the market. The excess supply was absorbed by official purchases that simultaneously set the price floor at the level seen at the close of the session, with minimal advance compared to the lowest values of the date.
The dollar today -without taxes- rose 23 cents this Monday, March 14, 2022, at $114.72, according to the average in the main banks of the financial system. In turn, the retail value of the currency at Banco Nación remained at $114.
The The blue dollar recorded its third consecutive drop this Monday March 14, 2022 and closed at its lowest face value of 2022, according to a survey by Ámbito in the Black Market of Currencies.
The informal dollar fell $2 to $200. Therefore, the gap with the official narrowed to 83.2%, its lowest level since July 13, 2021.
Since Thursday of last week, the parallel dollar has accumulated a drop of $4.50. In any case, the fall is much less than that suffered by financial dollars, which already operate even below the savings dollar, at less than $189.
Blue dollar price in the month
So far in March, the parallel dollar shows a decrease of $11 (-5.2%), after ending last month at $211.
Source: Ambito
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