On the other hand the MEP dollar -also valued with the Global 2030- rose $1.35 (+0.3%) to $288.15so the gap with the officer widened to 110.4%.
In the parallel market, the The blue dollar recorded its highest daily rise in three weeks, and was very close to the CCL level, even surpassing it within the day, according to a field survey in the Black Market of Currencies.
The informal dollar rose $5 to $297, its highest level since the beginning of August, thus erasing all the drop it had suffered on Monday (-$3). In this way, the gap with the official wholesale exchange rate widened to 116.9%, after having risen to 160% on July 22, its maximum in 40 years, when the parallel closed at $338, its nominal maximum.
The Government finalizes details of new exchange measures that encourage the reinforcement of dollars for the hit coffers of the Central Bank (BCRA), when the new economy minister seeks to put on track his commitment to reduce the fiscal deficit and reduce high inflation.
“The market is still waiting for concrete measures on the fiscal front. Although in the last week progress was made on the tariff segmentation project, fiscal savings continue to be practically nil for this year and 0.4% of GDP for the year that comes”commented from Cohen.
The monetary entity ended the day with a positive balance for its reserves of about 5 million dollars, with which it accumulates market acquisitions for about $285 million in the last nine trading sessions.
The Secretary of Agriculture, Juan José Bahillo, reaffirmed on Tuesday the need to “reformulate” the so-called “soybean dollar” after the “very little liquidation” in which the implementation of this instrument resulted, when expounding in the framework of an international congress organized by Coninagro.
“The tool was not effective or assertive because the liquidation was very little”, assured Bahillo in the conference that took place in the auditorium of the Argentine Catholic University (UCA), in Puerto Madero.
There, in the framework of the 5th International Congress 2022 organized by Coninagro, Bahillo expressed that the instrument launched by the BCRA that allows farmers who liquidate soybeans before August 31 access with 30% of the payment received for their merchandise in dollars at official value and with the remaining 70% in a fixed term tied to the advance in the exchange rate, did not encourage a greater liquidation of foreign currency.
“The macro conditions have stabilized and there is a predictability that there was not in July, but we are not having a liquidation. We have to reformulate this tool and we are working”said the official before that audience, while stressing the importance of “creating attractive conditions for the sector to liquidate and enter foreign currency.”
“They ask us to generate the conditions. We are not going to deny that we need the field to liquidate”, Bahillo asserted in reference to the conversations that technical teams of the Government and the entities that make up the Liaison Table maintain in this regard. In fact, in his presentation today, Bahillo argued that “The technicians clearly stated that the sector needs an improvement in the exchange rate” and that this is being analyzed. “We will see how we advance,” said the Secretary of Agriculture.
“Strikingly, when the high season for export liquidation is over, the market wonders if the dynamics have changed and now the BCRA is firmly on the other side of the counter. The smaller amounts sold compared to other years, added some contribution from the incentives for producers and grain companies can help modify seasonality”they indicated from StoneX.
In Brazil, on the other hand, The real posted its biggest percentage gain in 11 days against the dollar after weak US economic data moderated the outlook for interest rate hikes.
The Brazilian currency ended the day with an appreciation of 1.3%, at 5.0988 units per dollar, at its best closing level in a week.
Source: Ambito
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