While, The MEP or Stock Exchange dollar -also valued with the Global 2030- yields 0.7% to $188.43so the exchange rate gap is reduced to 65.7%.
“With the BCRA doing its task of continuing to rearrange the rate upwards and accelerating the ‘crawling-peg’, there is calm among the financial dollars, given that the bets on the ‘carry-trade’ – through CER instruments – continue the order of the day,” said economist Gustavo Ber.
Investments in pesos indexed to inflation are becoming more attractive in the face of inflation that has just recorded its highest monthly level in 20 years and that shows no signs of a significant slowdown in the short term.
Meanwhile, the Central Bank has been adjusting upwards the rate of increase in the official exchange rate and interest rates. The Leliqs rate now yields almost 59% annually in effective terms, above current year-on-year inflation (55.1%), but still below expected inflation that is already over 60%.
“The meager adjustment of rates entails a risk for the foreign exchange market given the acceleration of the ‘crawling peg’ since the beginning of April,” warned Portfolio Personal Inversiones.
“Yields for savers have remained in negative territory since last October, far from the understanding with the IMF that prays for ‘positive real returns,'” he said.
official dollar
In the official segment, the wholesale dollar advanced 70 cents to $113.67. On Wednesday, the Central had to sell more than US$30 million this Wednesday, which represented the first negative balance in 7 days in its daily interventions in the foreign exchange market.
The increase in demand forced a change in the purchasing trend exhibited by the monetary authority and reduced the positive balance for the month, which was left at approximately US$14 million of net purchases. “A strong activity of importers has been observed, which has accelerated in recent days,” they say in the market.
In that framework, the retail dollar -without taxes- rises 49 cents this Monday, April 18, at $118.88, according to the average in the main banks of the financial system. In turn, the retail value of the ticket in the Banco Nación is located $118.
The Solidarity Dollar -which includes 30% of the PAÍS tax and 35% deductible of profits- advances 81 cents at $196.15 on average, thus surpassing the level of the blue, for the second time since June 2021.
The blue dollar remains stable at $195, which represents its lowest value since last October, according to a survey by Ámbito in the Black Foreign Exchange Market.
The parallel dollar ended Wednesday for the eighth consecutive session below $200. Thus, the gap with the official wholesale dollar stands at 72.6%, the lowest since last June.
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.
