In the Buenos Aires stock market, the dollar “counted with liqui” (CCL) -operated with the Global 2030 bond- advanced 2.1% to $242.13. Thus, the gap with the wholesale exchange rate rises to 94.1%.
Meanwhile, the MEP dollar-also valued with the Global 2030- up 1.9% to $237.08. Consequently, the spread with the official exchange rate reaches 90.1%.
The Central Bank This Monday restricted access to foreign currency for luxury goods such as luxury cars and airplanes, while expanding access to foreign currency for small and medium-sized companies up to 115% of the value imported in 2021, from a limit of 105% previously established, up to a maximum of $1 million. Secondly, extended the import financing system to the system used for purchases with non-automatic licenses.
“The logic of this is to define a prioritization of the use of foreign currency that allows strengthening the capacity to accumulate reserves,” said the Minister of Economy, Martín Guzmán, in an interview with Radio con Vos. “Those who have the most credit are the SMEs (small and medium-sized companies) that are in a situation of easier access,” he added.
Argentina, which has had capital controls since 2019 to protect the scarce reserves of the central bank, registered an increase in its imports of 53.1% in May while exports grew 20.7%.
“Whenever there are exchange controls (…), there is an exchange rate gap. When there is an exchange rate gap, managing foreign trade is very important,” the official said. Especially energy imports were the ones that generated the increase in the demand for foreign exchange, after the rise in prices generated by the war in Ukraine.
“The Board of Directors of the Central Bank adapted the foreign trade payment system, to respond to the extraordinary needs of foreign currency to meet energy imports, in order to sustain economic growth and the development of SMEs, avoiding speculative maneuvers on imports. “, the monetary authority said in a statement.
In the first five months of the year, energy imports grew 205% compared to the same period in 2021, totaling 4.64 billion dollars, Guzmán explained.
“Therein lies the issue, that is the significant volume of increased imports,” he said, highlighting the government’s initiative to build a major gas pipeline from the Vaca Muerta unconventional hydrocarbon formation to increase local gas production.
“We are going to have the possibility of not importing more gas when we have the gas pipeline finished,” he added.
official dollar
The dollar today -without taxes- rises 85 cents this Monday to $130 for saleaccording to the average in the main entities of the financial system, while in the Banco Nación the ticket amounts 50 cents to $129.25 for sale.
Consequently, the savings dollar or solidarity dollar -which includes 30% of the COUNTRY tax and the 35% deductible of Earnings- climbs $1.40 to $214.50 on average.
At the same time, the wholesale dollar, which is directly regulated by the BCRA, rises 48 cents to $124.72after having registered the highest weekly rise since the penultimate week of last April.
Dolar blue
The The blue dollar hits a new historical nominal record this Monday, according to a survey by Ámbito in the Black Foreign Exchange Marketafter the Central Bank launched a series of measures to stop the bleeding of dollars from reserves.
In this context, the parallel dollar rises $4 and reaches an unprecedented $230, after registering a jump of $10 last week.
In this way, the exchange gap with the wholesale official exchange rate reaches 84.1%, the highest level in three and a half months.
So far in June, the blue dollar is up $23, which represents its biggest monthly advance in the year, after ending May at $207.
So far this year, the informal dollar has advanced $22, after closing 2021 at $208.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
