More moderate was the rise in MEP dollar -also valued with the Global 2030-, which climbed $2.05 (+0.7%) to $283.83so the spread with the officer it was 104.8%.
In the parallel market, on the other hand, the blue dollar fell $1 (-0.3%) to $291according to a field survey in the Black Market of Currencies. Thus, the gap with the official dollar reached to 110%, the lowest level in nearly two months.
The Minister of Economy is looking for ways to shore up the reserves of the Central Bank (BCRA), reduce the fiscal deficit and calm the rising inflation to comply with the International Monetary Fund (IMF) in the next review of accounts. Massa will travel to the US next week to visit Washington and Houston, where he will hold meetings with the IMF and with businessmen, a visit considered key among analysts to see how the last quarter of 2022 ends.
“The Government continues to evaluate alternatives to achieve a greater supply of dollars while readjusting the exchange rate,” said Delphos Investment, adding that “they are challenging to implement because they require more than ‘fine tuning’ without additional external funding.”
In the meantime,The dollar index rose this Tuesday, but fell below the 20-year high it reached a day earlier, while the euro returned to trading above parity, as markets priced in large interest rate hikes by the Federal Reserve and the European Central Bank.
The currency has been supported by aggressive rate hikes by the Fed in an effort to combat the highest inflation in decades, and economic data released on Tuesday gave the central bank no reason to hold back.
In the Brazilian foreign exchange market, meanwhile, The real fell 1.6% to 5.112 units per dollar, its biggest daily percentage drop in four weeks against the greenback.
official dollar
The savings dollar or solidarity dollar-which includes 30% of the COUNTRY tax and the deductible 35% of Income Tax and Personal Assets- it rose 28 cents to $240.27. And the tourist dollar or card -retailer plus COUNTRY Tax, and a perception of 45% deductible from Income Tax and Personal Assets- gained 30 cents to $254.84.
For its part, the wholesale dollar climbed 28 cents to $138.59, with a BCRA that comes from add just about 319 million dollars in the last 14 consecutive financial days in favor of its reserves (This Tuesday he bought $1 million).
These reserves are provisionally located by below 37,000 million dollars gross, with barely positive nets according to analysts. Meanwhile, the future dollar climbed to $216.75 in February.
“The pace of foreign exchange purchases is insufficient to meet one of the goals set with the IMF. Net reserves stand at 1.6 billion dollars and the goal is to reach 6.1 billion by September 30,” said analyst Ignacio Morales of Wise.
“It is estimated that during August the liquidation of foreign currency by agro-export companies will reach 3.1 billion dollars, well below the Government’s aspiration when implementing the ‘soy dollar’. The authorities dreamed of some 4.5 billion,” he added.
“The key would be to obtain international financial support that allows the situation to be stretched, given certain geopolitical reasons; however, this type of improvement may be worth for months but not for years,” stated Vatnet Financial Research.
The Secretary of Economic Programming, Gabriel Rubinstein, denied rumors about an abrupt change in the market exchange from Thursday. “I assure you 100% that there will be no devaluation, at least not this Thursday,” the official said Monday through audio broadcast by local media.
Source: Ambito
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