In the bag, andl dollar “counted with liqui” (CCL) -operated with the Global 2030- rose $4.60 (+1.6%) this Friday to $300.89, so the gap with the official exchange rate rose to 137.3%. A) Yes, throughout the week it recorded a jump of $48.67 (or 19.3%).
Meanwhile, the MEP dollar -also valued with the Global 2030- it advanced 25 cents (+0.2%) to $284.57. Consequently, the spread with the official exchange rate ended at 124.4%.
Christian Buteler, financial analyst, speaking with Ambit, believed that the rise in the financial dollar occurred in the face of uncertainty about possible greater restrictions on the official exchange rate. “If most of the companies that have to import have to do it at the value of the CCL or MEP dollar, here we have the result,” she launched.
Buteler said that “there is still a lot of nervousness caused by this rise in the exchange rate, which in my opinion is exaggerated, but it will depend on the measures that the Central Bank and the Economy Minister will take.”
Beyond all this, in the last Leliqs auction, the Central Bank did not refinance all maturities and attempted to transfer private liquidity to Treasury instruments. In this regard, Juan Pablo Albornoz, economic analyst at Ecolatina, told Ámbito that “the market perceives the Central as less risky than the Treasury. A perception that, in the long run in a context of fiscal dominance like the current one, does not make much sense.” .
By not being able to place that liquidity with Central Bank instruments, the analyst pointed out that the market probably turned to sureties. The 1-day security rate less than a week ago was around 39% TNA and this Thursday it closed below 24%.
“Very possibly the rise in financial dollars is more associated with this very low cost of leverage with guarantees (the small rebound in CER securities is also possibly a response to this),” he said, but added that “the rumors of growing restrictions do not help exchange rate dynamics.
The financial and foreign exchange week was marked by strong pressure on financial exchange rates and the blue, after the untimely resignation of Martin Guzman at the head of the Ministry of Economy.
Her place was taken by the heterodox Silvina Batakis, who will have to face inflation of more than 70% per year, a high fiscal deficit and a stagnant economy while maintaining a dialogue with the International Monetary Fund (IMF), with which the This year, the country restructured a debt of 44,000 million dollars.
Dolar blue
The The blue dollar soared this Friday and reached a new nominal record at the close, to accumulate a jump of $34 over a frenetic weekaccording to a survey by Ámbito in the Foreign Exchange Black Market,
With great volatility and some bewilderment among the cueveros in the face of a disparity in prices, the parallel dollar climbed $16 on the day to touch $273, an unprecedented value at the close, after touching $280 intraday last Monday, in what was the first reaction of the market to the departure of Martín Guzmán as head of the Palacio de Hacienda.
All in all, the exchange rate gap with the wholesale official exchange rate climbed to 115.3%.
official dollar
The dollar today -without taxes- rises 23 cents to $133.50 for the sale this Fridayaccording to the average in the main entities of the financial system, while in Banco Nación keeps the bill at $132.25 for sale. The market expects a split in the exchange rate.
The savings dollar or solidarity dollar-which includes 30% of the COUNTRY tax and 35% deductible of Earnings- advances 38 cents on average to $220.28.
The wholesale dollar, which is directly regulated by the BCRA, rose 22 cents to $126.78.
On Thursday, the Central Bank sold US$80 million this Thursday, with energy demand exceeding US$170 million, at a time of low foreign exchange liquidation. Since the beginning of the month, the monetary authority has sold some US$638 million, the worst start to a month in more than a year of operations.
Source: Ambito
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