While, The MEP or Stock Exchange dollar -also valued with the Global 2030- advanced in the same proportion to end the wheel at $191.69for which the exchange rate gap increased to 68.5%.
The rises occurred along with a $3 jump in the blue dollar, which reached $198 and positioned itself again as the most expensive exchange rate in the market.
On the one hand, it was an expected movement taking into account the sharp falls in prices in recent weeks, at a time when inflation in the first quarter was the highest since 1991, which puts pressure on foreign exchange competitiveness.
Additionally, the Government announced on Monday a bonus of $18,000 for informal workers, private households, and monotax workers, and another of $12,000 for retirees (which is added to the previous bonus of $6,000), with the aim of cushioning the impact of the jump in inflation on income.
Monetary aid would mean additional spending equivalent to 0.3% of GDP, which could affect the fiscal deficit target agreed upon with the International Monetary Fund (IMF). Likewise, the monetary goal could also be modified in case the disbursements are financed with issuance.
However, the Argentine Economy Minister, Martín Guzmán, said that work will be done to collect extra tax income through “unexpected income”, a tax that will cover large companies benefiting from the rise in raw materials as a result of the war in Ukraine. .
The market is beginning to wonder if the BCRA will be able to meet the reserve accumulation goal (agreed with the IMF) for the second quarter -even at the seasonal peak of agricultural liquidation-, which would require it to acquire reserves for some 2,500 million dollars of here at the end of June,” added Portfolio Personal Inversiones.
official dollar
In the official segment, the wholesale dollar rose 15 cents to $113.78. Inflows from abroad dominated throughout the session, exerting downward pressure on prices that was aborted by official participation.
The Central Bank’s purchases absorbed all the surplus available in the market, defending the new floor of the wholesale exchange rate until the close of operations today.
Specifically, the monetary authority was able to buy another US$80 million, which was added to the US$70 million of the previous session.
“The improvement in the income of the agro-export complex is once again aligned with the official objectives, which now do seem to have a more auspicious scenario to maintain the process of recovering international reserves,” said analyst Gustavo Quintana.
Meanwhile, the retail dollar -without taxes- advanced 15 cents to $119.03, according to the average in the main banks of the financial system. In turn, the retail value of the bill at Banco Nación rose to $118.75.
The solidarity dollar -which includes 30% of the PAÍS tax and 35% deductible from earnings- rose 15 cents to $196.40 on average, so he finished below the blue after two wheels.
Dolar blue
After several days of calm, operating at lows for the year, the Dolar blue he woke up this Tuesday, April 19, 2022 and jumped $3, the biggest daily gain in three months, according to a survey by Ámbito in the Black Market of Currencies.
The parallel dollar climbed up to $198, from lows since last October, to once again become the most expensive on the market, after overcoming the savings dollar again (it closed below $197).
In this way, the exchange rate gap with the wholesale price widened to 74%, from the previous 71.5%.
Source: Ambito
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