For its part, the MEP dollar -also valued with Global 2030– which, unlike the CCL, traded lower, the entire wheel fell 8.4% to $296.72, so the gap fell to 126.3% against the official exchange rate. The stock dollar has not dropped below $300 since July 19, when it closed at $295.23.
“They turned around a while ago, now accompanying the strong rises in bonds and shares, given the expectation aroused by the rumors about the cabinet change”held Gustavo Ber.
For his part, the economist Federico Glustein, in dialogue with Ámbitomaintained that “the market sees an opportunity in these rumors of eventual changes in the economic cabinet, a friendlier turn to the removal of barriers to access to foreign exchange and a path of lower public spending and issuance and a rise in interest rates”.
In this regard, he indicated that “expectations turn positive” faced with the possibility of turning the tide of triple-digit inflation and economic stagnation. “Think about an anti-inflationary and more orthodox plan motivates agents who wanted a helm in the political economic scenario,” Glustein added.
The market was also boosted by the rise in bonds in the region due to the reaction to the rise in Fed rateswhere “the bonds were at a floor and the rebound, coinciding with said floor, is greater than the rest,” said the economist, mentioning that the loans obtained from the World Bank and the IDB “are a guarantee for the future of the country and relief for reserves, as well as a possibility of resorting less to the fiscal deficit“.
Alberto Fernández was meeting with Sergio Massa, amid rumors about his arrival at the Cabinet as “super minister” of Economy and later held a meeting with Silvina Batakis, current head of the Treasury. As she could tell Ambit, the legislator seeks guarantees of being able to have control over the entire economic cabinet before joining the team of ministers.
On the other hand, On Wednesday, the rise to 90% of the TEA for Treasury bonds was defined, and this day the Central Bank’s LELIQ rate was adjusted to 60% of the TNA, with a TEA of almost 80% per year. “Although the rate remains negative against inflation, this gives it a path to go towards, at least, neutrality and divert funds to the peso market,” Glustein closed.
It should be noted that this week The BCRA announced the implementation of a special regime to encourage sales of the oilseed that will allow farmers to cover themselves from a possible devaluation of the official exchange rate.
Specifically, the BCRA will allow producers to make a demand deposit in financial entities tied to the Link Dollar, for up to 70% of the value of grain sales. Meanwhile, with the remaining 30%, you will be allowed to buy dollars in the official market at the value of what the savings dollar is trading today ($227.01 on average).
“The instrument launched by the BCRA for soybean producers It is expected that it will begin to take effect within a few days, starting the sale process that will later result in the liquidation of foreign currency in the foreign exchange market. According to industrial processes, from the sale of the grain is about 45 days until its impact on the market“, BCRA sources maintained.
official dollar
The Central Bank ended Wednesday with sales after 4 consecutive days of purchases. This time, the BCRA disposed of US$130 million, with the demand for the payment of imported energy and fuel reaching US$150 million this Wednesday, according to market sources.
In this way, missing two rounds for the end of the month, the balance of BCRA interventions is at -US$1,019 million.
The dollar today -without taxes- rises 28 cents this Thursday, July 28 and stands at $137.86, according to the average in the main entities of the financial system, while in the National Bank the ticket is kept in the $137.25 for sale.
The savings dollar or solidarity dollar-which includes 30% of the COUNTRY tax and the deductible 35% of Income Tax and Personal Assets- rises 46 cents and is located in the $227.47.
The tourist dollar or card -retailer plus COUNTRY Tax, and a perception of 45% deductible from Income Tax and Personal Assets- rises 49 cents and is quoted in $241.26.
The wholesale dollar directly regulated by the BCRAincreases 21 cents to $131.12.
Dolar blue
The blue dollar falls hard this Thursday July 28 and punch the $315, according to a field survey in the Black Market of Currencies, in the middle of a major collapse of financial exchange ratesdue to rumors of next changes in the government cabinet and the implementation of economic measures that give greater clarity to the direction of the economy.
Source: Ambito
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