One of the peculiarities of the day was that the SENEBI price (which arises from bilateral operations between private parties) ended even below the PPT price (which is the one that appears on the screen in the Stock Exchange).
The CCL has accumulated a collapse of 18.7% since the beginning of the understanding with the International Monetary Fund (IMF) was announced at the end of January. Within the framework of the agreement, the Central Bank (BCRA) has been adjusting interest rates upwards and accelerating the rate of devaluation, which discourages both the demand for stock exchange rates and the blue.
For its part, The MEP or Stock Exchange -also valued with the Global 2030 bond- closed almost stable at $190.21although the gap fell to 70.1% due to the higher rise of the wholesaler.
“While waiting for data that would reflect a new acceleration in inflation, Traders are expecting another round of rate hikes by the BCRA in search of being able to maintain the climate of exchange calm and the greater appetite for placements in pesoswhich is crucial in the face of local financing needs,” said economist Gustavo Ber, who highlighted the favorable context for carrying out “carry trades” with bonds and CER bills “before bets on their continuity as a result of the seasonal increase in liquidation of exports during the second quarter.
It is worth noting that, despite the nominal corrections established by the monetary authority, both the “crawling peg” and the rates in pesos continue to run behind inflation. Within a week, INDEC will announce March inflation, which, according to private consultants, could be around 6%, against a firm 4.7% in February and a projection of around 60% for 2022.
official dollar
In the official segment, the wholesale exchange rate rose 13 cents and closed at $111.83which is why it is already advancing at its highest annualized rate since January of last year.
After an adverse end to March, the BCRA added its second round in a row with a favorable result in its intervention in the foreign exchange market, since it was able to end with a net purchase of US$25 million.
During March, the agricultural sector liquidated almost US$3,000 million for its exports, the highest figure for that month in 20 years. In the first quarter, the currencies entered were 17% more than in the same period of 2021, according to market data.
For the second quarter, a higher amount of foreign currency income is expected due to the soybean and corn harvest, although a report by the Invest Online (IOL) brokerage company warned about the complications that the harvest could suffer as a result of the shortage of diesel and the escalation in its price, a situation that led grain carriers, integrated into the Federation of Argentine Carriers (Fetra), to make the decision to carry out a national strike on April 11 for an indefinite period.
Meanwhile, given the difficulties in importing energy in the world due to the war between Russia and Ukraine, a meeting between President Alberto Fernández and his Bolivian counterpart, Luis Arce, is scheduled for this Thursday to seal an agreement for Bolivia to increase its shipments. of natural gas for the winter, at a more accessible price than the one obtained in international markets.
In this frame, the Savings dollar or Solidarity dollar -retail plus taxes- grew 14 cents to $193.22.
The blue dollar closed at $196 and remained at the lowest for the year, according to a survey by Ámbito en el Mercado Negro de Divisas.
The informal dollar fell $3 in the previous session, registering its lowest face value since mid-December. In this way, the exchange rate gap fell to 75.3%, the lowest level in more than 9 months.
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.
