The economist, Federico Glustein, in dialogue with Ámbito, considered that the prices had a “stable” behavior in May for several reasons, but mainly, “because foreign exchange earnings were highespecially from agriculture with US$4.1 billion, and the BCRA was able to absorb US$785 millionscarce since it is only 19% of the total, but it is 80% of the year’s purchases”.
The development of the MEP and the CCL this month was influenced by external factors derived from the rise in rates in the US and the war, and the disarming of positions due to carry tradeGlustein maintained. In turn, “the swings of the Merval by 4.6% in pesos and 2.8% in dollars accompanied the foreign exchange market, consistent with the mixed expectations about the global financial market.”
Therefore, in this sense, “the rise of the local market was important for the financiers to be maintained. The blue had a different panorama that in April from end to end did not rise while in May it did so by 3.5% so as not to be left behind with the solidarity that reached it due to the devaluation rate of 4.6% of the official, “he closed .
For his part, Gustavo Ber said that “attention continues to be focused on the ability to accumulate reserves by the BCRA in the remainder of the quarternot only to meet the IMF’s goal but also because later the exchange balance would be less favorable”.
“Despite acknowledging the challenge of more pesos, less dollars that opens towards the second semester, the financial dollars do not abandon the tone of greater calm that they have been passing in recent timeswhich would begin to change in the coming months,” the analyst closed.
official dollar
The wholesale dollar, which is directly regulated by the BCRA, rose 19 cents this Tuesday to $120.20, therefore, during May it registered an advance of 4.2%, the most important monthly rise in the Alberto Fernández era.
The savings dollar or solidarity dollar – which includes 30% of the COUNTRY tax and 35% deductible of Earnings – rose 23 cents to $207.27 on average.
The dollar today -without taxes- advanced 14 cents this Tuesday to $125.62 for saleaccording to the average in the main banks of the financial system, while in Banco Nación the note increased 25 cents at $125.
Dolar blue
The The blue dollar recorded its most important monthly advance of the year in May, rising $6.50, although it ended below the solidarity, according to a survey of Ámbito in the Foreign Exchange Black Market.
informal dollar, that during the wheel came down $1, it culminated in the $207. Thusremained the “cheapest” retail exchange rate in the market, being slightly surpassed for the second consecutive day by the savings dollar.
Source: Ambito
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