For its part, the MEP dollar -also valued with Global 2030 – Scales 2.2% to $282.58, so the gap compared to the official exchange rate reaches 110.7%.
In the informal exchange market, the blue dollar rebounds $8 and trades at $290, after selling just over a week ago for $350, its all-time nominal record.
“The dynamics of the financial dollars is reactivated while the progress of the balance of pesos and dollars is monitored, since additional decreases in said references would only be possible if these imbalances are corrected and tactical bets of ‘carry-trade’ are resumed that trigger rebalancing of portfolios in case of projecting a scenario of higher rates in pesos and a period of exchange calm”, commented a specialist.
The president of the Chamber of Deputies, Sergio Massa, As of this Wednesday, he will take charge of a new ministry that will encompass the economic, productive and agricultural areas of Argentina.
“The appointment of Sergio Massa as ´super minister´ of the economic area produced a strong change in market expectations”, evaluated the consulting firm Delphos Investment.
Investors await economic announcements that seek to reassure the financial market at a time when annual inflation threatens to exceed 90%, the Central Bank has few reserves and exchange pressures put pressure on the market.
“The chances of a devaluation, whether de jure, via a discreet jump in the exchange rate or de facto, via an exchange rate split, will be more latent than ever throughout August,” warned Portfolio Personal Investments. “In this regard, the new minister could give clues at the press conference on Wednesday,” she estimated.
The Central Bank was unable to stop the bleeding of reserves, and on Monday, for the fourth consecutive day, it had to sell more than US$100 million in net form, ending this Monday with a negative balance of US$110 million, given the pressure exerted by the demand for energy payments. According to market sources, the request for foreign exchange for energy imports was in the order of US$100 million.
Source: Ambito
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