In turn, the MEP dollar -also valued with the Global 2030- It fell 79 cents to $281.78, the lowest in nearly two weeks.so the spread with the officer it was 103.7%.
In the parallel market, on the other hand, the blue dollar closed 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 finished at 111.1%.
“Financial dollars extend the period of greater tranquility, even when the external climate is more complicated and the carry-trade in this context is reserved only for aggressive operators, since emerging currencies are already conditioned”, pointed out a market operator.
Meanwhile, andhe Central Bank chained this Monday, August 29, 13 consecutive days without net sales in the foreign exchange market, ending the day with net purchases for some US$11 million, market sources indicated.
“The BCRA continues to buy foreign currency in small drops, as can be expected in a period in which, although energy payments fall, agricultural liquidations also fall. The situation towards 2023 shows a panorama of high exchange rate stress if much more measures are not taken. forceful and speculation continues with disbursements or loans that can contribute little to solidify the power of fire of the BCRA”they commented from Aurum Valores.
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 she 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.
On the other hand, in the Brazilian foreign exchange market, the real appreciated 0.9% to 5.033 units per dollar on sale, its highest level since mid-June.
official dollar
In the market exchange wholesaler, the dollar rose 62 cents (+0.5%), to $138.32, with the usual intervention of the Central Bank. 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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