For its part, the MEP dollar -also valued with the Global 2030- advances 3.1% to $230.14, so the spread with the official exchange rate is set at 88.2%.
Faced with a pace of dollar purchases by the BCRA that it has not been able to lift, the market is not only discounting that it would not be possible to meet the reserve accumulation goal, but also growing difficulties in the exchange balance as of the second semester . Faced with these concerns, added to the noise about the CER titles, the financial dollars have woken up strongly since Thursday of the week and so they are rehearsing a rapid upward readjustment. “They could not continue to be ironed in time under a scenario of high inflation, given that, like the wholesaler, they are incubating a growing relative backwardness,” warns an operator.
Juan Pablo Albornoz, economic analyst at Ecolatinain dialogue with Ámbito, maintained that the sharp rise in financial dollars happened because “There was a very strong disarmament of positions mainly in CER titles”.
“Part of that flow of money rotated towards money market instruments and, another part, towards the dollar“, Albornoz closed his explanation.
For his part, the financial analyst, Christian Buteler, assured that this shot has several edges. “The first thing to note is that the dollar comes with an amazing stability during the year against an accumulated inflation of 30%. At some point I was going to have to adjust,” he opined.
“If you maintain the same basic conditions (the same stocks and the same taxes that put pressure on the exchange rate) it is not logical that the dollar hold steady”described and added that “if all the prices of the economy travel to the order of 5% monthly, the dollar is one more price”.
To this situation, he named, was added the very strong sale of bonds That happened on Wednesday and Thursday. This generated “a concern in the market and caused some investors to say what asset was cheap? And the financial dollars were cheap.”
“This is the main thing that has moved the market. We’ll see how it goes. If the sales of the CER bonds pay off,” said Buteler and warned that the financial dollars “will find a new balance and will continue to move normally”. “It is expected that this stability will end and they will begin to rise more at the rate of inflation and the issuance of pesos,” she closed.
official dollar
The dollar today -without taxes- rises 47 cents to $127.56, according to the average in the main entities of the financial system, while in the Banco Nación the note amounts 25 cents to $127.25 for sale.
The savings dollar or solidarity dollar -which includes 30% of the COUNTRY tax and 35% deductible of Earnings- advances 78 cents to $210.47 on average.
The wholesale dollar, which is directly regulated by the BCRA, appreciates 50 cents to $122.30.
The The Central Bank was only able to add US$40 million to reserves last week, after energy payments of US$500 million were made. It happened after this Friday the monetary authority bought 7 million and energy payments for more than 100 million.
Dolar blue
the blue dollar records its second consecutive increase, with which it renews its highest value in 4 months, according to a survey of Ámbito in the Black Market of Currencies.
The parallel dollar advances $5 to $215, its maximum since last February 9 (when it closed at $217). In this way he accumulates an advance of $7 since last Friday.
Thus, the The gap between the blue dollar and the wholesale official exchange rate stands at 75.6%.
Despite the strong rise, the informal dollar operates conspicuously with a significant gap compared to the financial dollars, which shot up to $230 in the case of the MEP, and up to $237 in the case of the CCL.
“The big difference between the blue and the financiers is explained by the ‘black’ bills. There is a lot of parallel supply and little demand because there are no pesos on the street,” comments a market operator to Ambit.
Last week, the parallel dollar recorded its biggest rise in a month and a half, by accumulating between last Monday and Friday a $5 raise, driven by the strong advance shown by financial dollars in recent days.
Source: Ambito
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