While, the MEP -also valued with the Global 2030- climbed 1% in this wheel, to settle at $205.99. In the month it climbed 8.1% ($15.39).
It is worth remembering that Tuesday of last week and Tuesday of this week, prices recovered up to $25 of the more than $40 they had lost between the end of January and the beginning of this month. This week had started with the same bullish trend, although between Wednesday and Thursday the prices collapsed more than $8.
The demand for coverage in dollars accelerated due to several causes. At the domestic level, the acceleration of inflation, some doubts regarding the fulfillment of the goals agreed with the International Monetary Fund (IMF) in fiscal matters and the accumulation of reserves, and the tensions within the ruling party had an influence. Likewise, the escape from risk at a global level in the midst of the war in Ukraine, the resurgence of Covid-19 in China and the rise in rates in the US also had an impact.
“In January and February, faced with extreme volatility in financial assets in the world, and with the BCRA raising the rate, it was convenient for you to do a ‘carry trade’ in certain short periods. As of March, with the upsurge in inflation, plus a dollar that is strengthening in the world, the investor that operates the CCL dollar began to perceive that it no longer made sense to carry on. In these mechanisms you sometimes have a kind of overreaction. Now the prices have adjusted again, trying to find a balance above $200“, explained to Ámbito the director of Rafaela Capital, Fernando Camusso.
For his part, the director of Libertad y Progreso, Aldo Abram, He maintained to this medium that volatility occurs because “in these circumstances, everyone wants to buy at the same time, and vice versa when the trend changes.” “But if the government does not correct the factors that generate uncertainty, the long-term trend of the exchange rate is going to be upward,” he said.
Inflation is one of the major macroeconomic problems that the country is going through today, after the unexpected jump of 6.7% in March and an accumulated 16.1% in the first quarter of the year.
In this context, the Government summoned referents of the country’s leading companies this Friday to check the price spike and the lack of merchandise.
In the market, they estimate that the inflationary escalation in April induces new pressures for the BCRA to analyze a possible new increase in its reference rate for May. This yield currently stands at 47%, after three monthly increases in the first part of the year.
Price of the solidarity dollar, Friday, April 29
The savings dollar or solidarity dollar-which includes 30% of the PAÍS tax and 35% deductible of profits- rose 58 cents to $199.06 on average. In this way, he ends the month with an advance of $4.20.
Wholesale dollar price, Friday, April 29
The wholesale dollar, which is directly regulated by the BCRA, rose 13 cents to $115.31, for which an adjustment of 3.9% was recorded in April. In this way, in the year the correction for the year stands at 12.3%, values that, although they remain on the rise, are still far from the inflation rates registered in the same period.
In the week that has just ended, meanwhile, the wholesale exchange rate rose $1.08 compared to the close of last Friday.
During the session, highs were posted at $115.32 with the first trade closed, fourteen cents higher than the previous finish. Official interventions supplied the purchase orders in the first half of the session, correcting the initial values that fell back to a minimum of $115.30.
The improvement in genuine income combined with official sales and kept the values in a very narrow range of fluctuation that could never exceed the highs of the beginning. In the last part of the session, the monetary authority took advantage of a slight excess of supply, recovering in excess the sales made previously.
Price of the CCL dollar, Friday, April 29
After sharp declines on Wednesday and Thursday, the “liquid counted” dollar (CCL) rebounded 0.7% ($1.51) to $206.96. In this way, in April it accumulated a jump of 8.6% ($16.41) and the gap with the wholesale exchange rate, which is regulated by the Central Bank (BCRA), it rose from 71.6% to 79.5%.
Price of the MEP dollar, Friday, April 29
While, the MEP -also valued with the Global 2030- climbed 1% in this wheel, to settle at $205.99. In the month it climbed 8.1% ($15.39).
Blue dollar quote, Friday April 29
The The blue dollar sank another $3.50 this Friday, April 29, and closed the week at $200.50, according to a survey of Ámbito in the Black Market of Currencies. In this way, it registered a setback compared to last Friday.
The informal dollar went through some very volatile days. Between Monday and Tuesday it jumped $9.50, but on the last three wheels he chained a $12 collapse.
Consequently, the gap with the official wholesale exchange rate fell from 85% to 73.9%.
Last week, the parallel dollar had accumulated a rise of $8, the highest since January, after 11 days in a row trading between $195 -the lowest since October- and $199.50.
The maximum price of the blue so far this year was seen at the end of January when it traded above $223, prior to the agreement with the International Monetary Fund (IMF).
In the fourth month of the year, The blue dollar rose 50 cents after ending March at $200.
Crypto dollar price, Friday April 29
The crypto dollar or bitcoin dollar loses 0.7% to $206.23based on the average across local exchanges reported by Coinmonitor.
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Source: Ambito
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