In the same way, The MEP dollar -also valued with the Global 2030 bond- advanced 1% daily to $195.27, and chained an increase of 5.2% ($9.67) in the last sessions. ANDThe spread with the official reached 78.3%.
“After the latest inflation data, and the acceleration projections for March, the operators anticipate a new rate hike by the Central Banksince said strategy was key -along with the acceleration of the ‘crawling-peg’- for the greater recent exchange rate calm”, highlighted the economist Gustavo Ber.
According to the analyst, “after deflating about 20% from the highs, the financial dollars rehearse a rearrangement which comes from the perception of lower prices among the operators -even more so given the ‘nominality effect’ due to the high background inflation- beyond the fact that this does not discourage for the time being the greater appetite for instruments in local currency -especially CER- as reflected in Wednesday’s tender”.
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.
official dollar
The dollar today -without taxes- rose three cents this Thursday, March 17, 2022until the $114.91, according to the average in the main banks of the financial system. In turn, the retail value of the currency at Banco Nación closed unchanged at $114.50.
In the wholesale segment, the dollar rose 10 cents to $109.51, under the strict regulation of the BCRA, with which in the week it accumulates a rise of 63 cents.
The Central Bank cut a positive streak and sold US$33 million, for which it cut 11 consecutive days without sales. In any case, so far this month it accumulates a positive result close to US$520 million.
On the day with the lowest trading volume in March, the US currency traded with a buying trend but with prices always limited within the margin set for today by the Central Bank, with minimal variation throughout the day.
The highs were posted at the start at $109.53, twelve cents higher than the previous end. Authorized demand remained very active, smoothly absorbing genuine revenue. The relative insufficiency of private supply was replaced by the appearance of the Central Bank with sales in the sector where banks and companies operate, aimed at meeting purchase orders that did not receive a response on the side of income from abroad. The official activity corrected the initial rise in prices, taking them to a minimum of $109.51 at the close.
Source: Ambito
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