While, the MEP dollar -also valued with the Global 2030- It rises 0.3% on the day and operates at $280.17, so the gap against the official exchange rate reaches 108.9%.
For its part, the blue dollar rises $1 this Wednesday to $294, according to a survey by Ámbito in the Black Market of Currencies. Thus, the gap with the official dollar stands at 119.2%, after having climbed to 160% on July 22, its maximum in 40 years.
“The new minister will now have to show concrete results in terms of reserves and fiscal consolidation -among other issues-. Without these, it will be difficult for Argentine assets to fully recover“, said Emiliano Anselmi of Portfolio Personal Investments.
The bleeding of reserves by the Central Bank is one of the critical points on which analysts issue warnings: in the last ten rounds, The monetary authority accumulated net sales of US$1,203 million, the longest negative streak in two years.
The pressure on the exchange rate began two months ago after a liquidation of the debt in pesos tied to the CER, it continued when the BCRA tightened the exchange rate clamp on companies at the end of June and accelerated after the resignation of the former minister of Economy Martin Guzmanearly July.
It should be remembered that according to the survey of market expectations (REM) prepared every month by the Central Bank, a inflation of 90.2% for this year and an exchange rate of 167.16 pesos per dollar at the end of December. In this framework, it is expected that this Thursday the National Institute of Statistics and Censuses (Indec) will release the Consumer Price Index (CPI) for July this Thursday, which analysts calculate above 7%.
official dollar
The Central Bank sold reserves on Tuesday for the tenth day in a row, ending with a negative balance of about $64 million.
In this context, savings dollar or solidarity dollar-which includes 30% of the COUNTRY tax and the deductible 35% of Income Tax and Personal Assets- trades flat at $232.27.
While the tourist dollar or card -retailer plus COUNTRY Tax, and a perception of 45% deductible from Income Tax and Personal Assets- trading stable at $246.35.
Source: Ambito
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