In turn, the MEP dollar -also valued with the Global 2030- back $1.56 to $281.01so the spread with the official it is located at 103%.
In the parallel market, on the other hand, the blue dollar is stable at $292, after falling $1 at the beginning of the sessionaccording to a field survey in the Black Market of Currencies. Thus, the gap with the official dollar it stands at 110.3%.
The Minister of Economy, Serge Massa, seeks to strengthen the reserves of the monetary entity and reduce the fiscal deficit to comply with agreements with the International Monetary Fund (IMF) in the next review of the organization’s accounts.
Massa will travel to the US next week to visit Washington and Houston, where he will hold meetings with the International Monetary Fund (IMF) and businessmen.
“Although the greater liquidation of agriculture and the lower demand for energy payments gave the BCRA air to buy some foreign currency, it was not enough to contain international reserves, which in the last week fell 38 million dollars, closing with a stock gross of 37,027 million, while net reserves remained around 400 million”they said from Cohen.
“Specifically, in the last week, agriculture liquidated 871 million dollars, the demand for energy was barely 120 million and the BCRA managed to buy 158 million. Thus, so far this month, the balance of BCRA operations in the market exchange marks net sales of 534 million dollars,” he added.
official dollar
In the wholesale exchange market, the dollar rose 0.5% to $138.40, with the usual intervention of the Central Bank with purchases or sales of dollars from its reserves. Last week the currency appreciated by 1.12%.
“Despite the rumours, it is unlikely that the Government will carry out a devaluation of magnitude as it has been circulating in some media and social networks”, said Roberto Geretto of Fundcorp.
“Devaluing without a plan is not only expensive in terms of activity and inflation, but in the current context it can lead to a spiral. Also, devaluing 50% in the face of a gap of more than 100% may not taste like much. Thus, devaluing can be part of the solution or part of the problem, it all depends on the plan, if there is one”, he claimed.
The Secretary of Economic Programming, Gabriel Rubinstein, denied rumors about a 50% rise in the official dollar for Thursday. “I assure you 100% that there will be no devaluation, at least not this Thursday,” the official said according to audio.
In this framework, the country risk prepared by the JP. Morgan bank rose nine units, to 2,403 basic points.
“Local problems and the consequent country risk are at such high levels that the expectation of more rational economic and financial decisions has a greater incidence,” VatNet Financial Research said.
The Government is considering requesting a IMF loan under its new Resilience and Sustainability Facility (RSF), designed to help countries ensure sustainable growth, a source with direct knowledge of the matter told Reuters.
Source: Ambito
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