While, the MEP -also valued with the Global 2030- climbs 1% in this wheel, to settle at $208.96after climbing 8.1% ($15.39) last month.
It is worth remembering that in just one week the prices managed to recover up to $25 of the more than $40 they had lost between the end of January and the beginning of April. In a context of high volatility, on Wednesday and Thursday they exhibited a strong decline, to then resume the upward path last Friday.
“The fall recorded in financial dollars is basically due to doubts about the program with the IMF, high inflation, and the low level of reserve purchases that the BCRA is having,” said Roberto Geretto, from Fundcorp.
“Financial dollars in real terms were at their lowest level since the end of 2020. As always, when the dollar goes down it is only to gain momentum and go back up,” he said.
While in the external context, the meeting of the United States Federal Reserve this week, in which interest rate increases of 0.5 percentage points are expected, is kept in sight, fears of weak growth in the economy China and the war in Ukraine.
“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 who 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 returned to adjust, trying to find a balance above $200,” the director of Rafaela Capital, Fernando Camusso, explained to Ámbito..
For his part, the director of Libertad y Progreso, Aldo Abram, told this outlet 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.
According to private estimates, inflation would be around 5% in April, after marking 6.7% in March (record in 20 years).
official dollar
The wholesale dollar rose 42 cents this Monday to settle at $115.73, under the strict regulation of the BCRA. As usual, the adjustment compensated for the inactivity of the weekend.
In April, the entity led by Miguel Pesce validated a devaluation of 3.9% ($4.30), the highest since the Frente de Todos government took office. Even so, it is worth clarifying that the “crawling peg” continues to run behind inflation that will remain above 5% in April, according to private estimates.
The good news of the day was that the Central began May with a net purchase of US$180 million, the highest in almost two months. Thus, the monetary authority seeks to take advantage of the heavy harvest season to accumulate reserves, after accumulating a meager US$170 million throughout April.
For its part, the retail dollar -without taxes- increases 27 cents to $120.91 for saleaccording to the average in the main banks of the financial system, while in Banco Nación the banknote 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- amounts to 44 cents to $199.50 on average.
The blue dollar rises 50 cents at the beginning of May after having fallen sharply again on Friday, according to a survey of Ámbito in the Black Market of Currencies.
The informal dollar operates at $201 after accumulating a collapse of $12 in the last three rounds. This happened after shooting up $9.50 between Monday and Tuesday. Last week, it ended down $2.50.
Source: Ambito
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