While, the MEP -also valued with the Global 2030- fell $3.85 (1.8%), to settle at $208.33. In this case, the gap ended at 81.1%.
Since last week, financials have been exhibiting strong rebounds and recovering a good part of the $40 they had lost between the end of January and the beginning of this month.
At the local level, the pressure of inflation on the rest of the variables in nominal terms, some doubts about meeting the goals with the International Monetary Fund (IMF) and a level of accumulation of reserves lower than expected for this time of year, were factors that put pressure on the search for currency hedging.
The Ministry of Economy will place this Wednesday a basket of letters and bonds in pesos, made up of titles at a fixed rate, at a variable rate, and indexed to inflation. As happened in the previous tender, a strong demand for the latter is expected, in a context in which the monthly inflation rate is the highest in 20 years.
Likewise, the amount of the debt obtained will be key to having more certainty regarding the financing of the Treasury and the needs to increase the monetary issue, at a time when the Government launched new bonds for the sectors most affected by the acceleration in prices.
“Today’s auction will be key to understanding whether investors continue to bet on placements in pesos or if they prefer not to continue running exchange risk in a more hostile global environment,” said the StoneX brokerage.
At the international level, the lockdowns in China due to Covid-19, the war in Ukraine and a rise in the rates of the world’s main central banks are issues that have been added to the intrigues about the local economic future.
official dollar
The official wholesale exchange rate rose 19 cents this Wednesday to stand at $115.04, under the strict regulation of the BCRA. With today’s correction and when there are only two days to go until the end of April, the currency accumulates a rise of 3.6%, exceeding the adjustment of the previous month, although still well behind monthly inflation.
The monetary authority ended its intervention in the foreign exchange market with a negative net balance of US$65 million on this day.
Market agents agreed that these sales by the monetary authority were due to seasonal demand from importers and self-generated liquidity to decompress the recent weakness of the peso.
“As always happens at the end of the month, the demand for foreign currency is activated by the closing of positionsforcing the monetary authority to participate more actively in the market, a fact that complicates the objective of recovering reserves in this part of the year,” explained Gustavo Quintana, from PR Corredores de Cambio.
A few days before the end of the month, the accumulated figure for April gives a result in favor of almost US$165 million, well below what the market expected, taking into account the income of foreign currency that usually occurs at this time in concept of grain exports. “The possibility of ending the month surpassing the previous record was removed,” Quintana warned.
For its part, the retail dollar -without taxes- increased three cents this Wednesday, April 27, to $120.13 for sale, according to the average in the main banks of the financial system, while in the Banco Nación the ticket remains unchanged at $119.75 for sale.
Thusthe savings dollar or solidarity dollar -which includes 30% of the COUNTRY tax and the 35% deductible of profits- rose four cents to $198.21 on average.
The blue dollar fell hard this Wednesday, April 27 and scored his first casualty in 10 days, according to a survey of Ámbito in the Black Market of Currencies.
In a very volatile market, the informal dollar erased almost all of the rise it had registered on Tuesday, and gave back $6 to $206.50. In the previous day, it had shot up $7, which was added to the $2.50 on Monday. In this way, the gap with the wholesale official exchange rate fell to 79.5%.
Market sources estimate that operators close to the ruling party would have intervened in the informal exchange circuit to decompress the recent pressures on the currency.
Source: Ambito
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