While, the MEP dollar -also valued with the Global 2030- it fell 1.2% to $285.69. Consequently, the spread with the official exchange rate was 124.3%.
Financial exchange rates closed lower after the new Economy Minister confirmed that the country It will maintain the goals agreed upon with the International Monetary Fund (IMF) and will announce measures aimed at lowering the large fiscal deficit.
Batakis, said at a press conference before the opening of the markets, “we are not going to spend more than we have” since “we need to give a certain order and balance to the public finances of the national state”.
“The readings left by the political speeches of recent days, as well as the economic announcements, continue to be interpreted in order to assess whether or not they will allow the deteriorated expectations to be calmed”said Gustavo Ber, an economist at Estudio Ber.
“It is crucial to generate a climate of greater calm since it is a necessary condition to try to address economic imbalances in time, and thus avoid reviving a new wave of inflationary and financial tensions that continue to feed the vicious circle of mistrust,” he added.
The local economy is immersed in a growing inflationary escalation, which would reach 76% this year according to a recent survey by the Central Bank (BCRA), high fiscal deficit with high monetary issue and strong exchange controls.
Traders commented that fears of a global recession with high inflation are accentuated by a resurgence of coronavirus in China and energy problems in Europe, which drives away the appetite for risk investments.
Dolar blue
Like the financial exchange rate, the The blue dollar registered its first fall in four days on Monday and pierced $270, from its nominal record at closingaccording to a survey carried out by Ámbito in the Foreign Exchange Black Market.
The Casual Dollar dropped $5 to $268 (did as low as $267 on the wheel), After accumulating last week, it accumulated a jump of $34, in a period of great volatility and some confusion among the cueveros due to a disparity in prices.
All in all, the exchange rate gap with the wholesale official exchange rate fell to 110.4%.
On Friday, the parallel dollar had climbed $16 and touched an unprecedented value at the close, after registering $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.
official dollar
The dollar today -without taxes- advanced 78 cents to $134.67 for sale this Mondayaccording to the average in the main entities of the financial system, while in the Banco Nación the bill rose 25 cents to $133.50 for sale.
Thus, the savings dollar or solidarity dollar-which includes 30% of the COUNTRY tax and 35% deductible of Earnings- it rose $1.30 on average to $222.21.
Meanwhile, the wholesale dollar, which is directly regulated by the BCRA, rose 55 cents to $127.35with which he compensated, as at the beginning of the week, for the days without activity for the weekend.
The Central Bank ended with a positive balance for the first time in the month, by buying US$80 million, after starting the month with significant sales. Since the beginning of the month, the monetary authority has sold some US$658 million and the accumulated annual figure once again exceeds US$1.2 billion in reserve recovery.
“An improvement in genuine income and less robust demand combined so that the central bank could end its activity with net purchases in the foreign exchange market,” said analyst Gustavo Quintana.
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.
