After breaking through $190, the dollar “counted with liquid” (CCL) -operated with the Global 2030 bond- rebounds $5.17 to $194.27, for which the gap with the wholesale official grows to 77.6%.
In the same way, the MEP dollar -also valued with the Global 2030 bond- rises $5.43 to $193.37 and the spread with the official reaches 76.7%.
Stock exchange rates had just collapsed more than $10 since the beginning of March due to several factors, such as the acceleration in the pace of official devaluation, the rise in rates by the BCRA, and the fall of the dollar in Brazil, all within the framework of the agreement with the IMF, which aims to calm expectations.
But knowing the inflation data for February, which reached 4.7% and was well above what was expected by the market, fears returned about a greater acceleration of prices for the coming monthswhich add to the political tensions within the ruling coalition, just five days before the country must face the payment of some 2,800 million dollars before the credit agency.
Operators point out that the regulation of the exchange market marks a marked delay in the price of the peso. The currency depreciated 2.26% in February, against inflation close to 5%. “There is still a significant amount of pent-up inflation in the system due to currency controls, price controls, export controls, and significant public tariffs below cost,” Goldman Sachs stated.
Meanwhile, the senators will discuss on Thursday the understanding reached between the Government and the Fund. The final agreement establishes a grace period of four and a half years and extends disbursement payments to 10 years, so that the country will begin to pay off the debt in 2026 and end in 2034, in addition to establishing growth goals, low inflation, strengthening of the reserves of the central bank (BCRA) among other points.
“In any case (if the approval of the Senate is achieved), doubts still persist about whether Argentina will be able to reduce the fiscal deficit agreed in the agreement with the Fund”said Research for Traders.
official dollar
In the wholesale segment, the currency rose nine cents to $109.41, under BCRA regulation, which ended with a neutral balance after 10 consecutive days with net purchases. So far this month, the BCRA has accumulated a positive balance of some US$560 million.
For his part, the savings dollar or solidarity dollar -retail plus taxes- advanced 10 cents to $189.55 on average.
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.
