In the same vein, the dollar MEP -also valued with the Global 2030 bond- advanced 1% to $199.82which brought the spread with the official to 81.5%.
“After breaking $200, financial dollars continue to gradually recover ground in the face of the combo of higher demand after the strong accumulated contraction of ~20% from – and inflation that is pressing in the background from nominality, and so they could have already tested a floor“said the economist Gustavo Ber.
The stock exchange rates had just collapsed more than $10 in the previous week due to several factors, such as the acceleration in the official devaluation rate, the BCRA rate hike and the appreciation of the real in Brazil, all within the framework of the agreement with the International Monetary Fund (IMF), which contributed to calm expectations.
“Only the review of the agreement by the IMF board remains. The agency’s board meets this Friday, March 25, and the IMF delayed the payment of March 21 and 22 before March 31, preventing Argentina from entering arrears. While Therefore, the external weather this morning is not helping EMs with US10Y jumping +8bps and globals showing reds between -0.2/-0.4% on external screens,” PPI noted.
On Friday, the memorandum with the IMF was approved by the Senate and became law. With the issue of the Fund closed, the Government will focus its greatest efforts on trying to reduce high inflation. President Alberto Fernández plans to announce a series of measures in this regard this afternoon.
Dollar
The exchange rate directly regulated by the Central Bank rose 10 cents to $110.10. In the first days of this week, the exchange rate rose 37 cents, against a rise of 44 cents in the same period of the previous week.
The entity led by Miguel Pesce bought some US$6.5 million, after accumulating a string of 3 wheels in which it accumulated sales of US$100 million. The accumulated figure for the month rose by the same magnitude as the purchases made this day, maintaining the positive sign of March.
“The tepid recovery of reserves achieved by the Central Bank is not enough to determine if we are in the presence of a renewed process of net purchases or, on the contrary, today’s result is just a pause that keeps an open end for what remains March,” analyst Gustavo Ber pointed out.
The currency traded very stabilized around the official regulation values and remained almost unchanged until the end of the day. Prices settled from the start at the levels determined for today, with minimal oscillation in a scenario of lower business volume than that recorded in the previous session.
The highs were noted with the first trades settled at $110.08, eleven cents higher than the previous end. The supply of foreign currency increased in the first part of the day, accommodating the price to a minimum of $110.06. The stability of the price was the reflection of the balance that stood out from the middle of the session, in a development that did not have the intense activity of yesterday. The monetary authority participated marginally in the sector where banks and companies operate, ultimately absorbing the occasional excesses of foreign currency available in the market.
In the retail segment, the dollar today -without taxes- rose seven cents to $115.42 this Tuesday, March 22, 2022, according to the average in the main banks of the financial system. In turn, the retail value of the currency at Banco Nación rose to $115.25.
Dolar blue
The The blue dollar fell this Tuesday, March 22, 2022, with which it accumulated its second consecutive fall, according to a survey of Ámbito in the Black Market of Currencies. In this way, the gap with the official dollar was 82.6%.
Casual dollar fell $1 to $201 for sale. It should be remembered that last week the bill posted an increase of 50 cents, the second in a row.
So far in March, the parallel dollar is down $10 after ending last month at $211.
Source: Ambito
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