It should be remembered that the Government formalized the creation of the Export Increase Program, through which an exchange rate of $200 per dollar is applied to soybean exports with the aim of accumulating foreign currency and reinforcing BCRA reserves, through Decree 576 /2022 published today in the Official Gazette.
The measure, arranged “in an extraordinary and transitory manner” and which will run until September 30was announced yesterday by the Minister of the Economy, Sergio Massa, after being agreed with the main exporting complexes, who undertook to sell soybeans and derived products for at least US$5,000 million, of which “a liquidation of u$s1,000 million in the first 72 hours of validity” of the measure, that is, from today until Wednesday.
“The monetary authority had to make sales to address the lack of supply in a round that did not have the support of the sales of the soybean complex. The new provisions announced today still lack some operating instruments that are supposed to be put into effect in the coming days, always with the aim of stimulating the entry of foreign currency from a sector with great dynamism in foreign trade to help the objective of accumulating reserves. in the shortest time possible“, analyzed Gustavo Quintana, operator of PR Corredores de Cambio.
Meanwhile, the wholesale dollar increased $1.25 to $140.28 this Monday, September 5, a higher-than-usual differential in line with the previous inactivity and due to the political commotion suffered by the country. This is the biggest rise for a start to the week since August 2019 and it occurs after the restart of business after the holiday arranged on Friday due to the failed attack against Vice President Cristina Fernández de Kirchner.
“In principle, it is the usual at the beginning of the week, but this time, it seems to me that they also gave it another push by accelerating the adjustment rate somewhat“, he told Ámbito, Gustavo Quintana, operator of PR Corredores de Cambios. And he added: “Although today’s adjustment compensates, as in every beginning of the week, the inactivity due to the holiday on Friday and the weekend, it marks a record in three years.”
In that framework, the dollar today-without taxes- this Monday rose $1.19 or 0.8% to $147.05 for sale, according to the average in the main entities of the financial system. In the Banco Nación, meanwhile, the retail ticket advanced $1 cents at $146.
In the parallel market, on the other hand, the blue dollar plummeted $15 to $270, according to a survey of Ambit in caves of the city of Buenos Aires. In this way, the spread with the official is 92.5%.
Savings dollar price, Monday, September 5
The savings dollar or solidarity dollar-which includes 30% of the COUNTRY tax and the deductible 35% of Income and Personal Property Tax- won $1.96 to $242.63 and the gap to blue narrowed to less than $28.
Price of the tourist dollar, Monday, September 5
The tourist dollar or card -retailer plus COUNTRY Tax, and a perception of 45% deductible from Income Tax and Personal Assets- advanced $2.1 this Monday to $257.34 for sale. During August, it registered an increase of $13.72 or 5.7%.
Wholesale dollar price, Monday, September 5
The wholesale dollar directly regulated by the BCRA, this monday rose $1.22 a $140.25. During August, this exchange rate registered an advance of 5.7%, the highest monthly correction since March 2019.
Price of the future dollar, Monday, September 5
The futures market operates with losses in almost all terms: to September it fell 0.9% to $148.38, while to October it fell 0.8% to $164.05. Meanwhile, the dollar contract to November fell 1.6% to $176.90.
Price of the CCL dollar, Monday, September 5
The dollar Cash with Liquidation (CCL) -operated with the Global 2030-it sank 2% to $282.91, its lowest value in nearly three weeks. Thus, the gap with the officer fell to the 101.7%.
Price of the MEP dollar, Monday, September 5
The MEP dollar -also valued with the Global 2030- fell 2.7% to $271.19. In this way, the spread with the officer pierces 100% at 93.3%. In August, the stock market dollar increased $6.37 or 2.3% compared to July.
Blue dollar quote, Monday, September 5
The blue dollar sank $15 to $270according to a field survey in the Black Market of Foreign Exchange at the closing of the wheel. Thus, the gap with the official dollar was reduced to 92.5%. During August, the parallel dollar recorded a drop of $6.
Crypto dollar price, Monday, September 5
The crypto dollar or Bitcoin dollar falls 2.4% to $272.56 for salebased on the average across local exchanges reported by Coinmonitor.
More news about the Blue Dollar and the Dollar
The official dollar registered in August the highest monthly rise in three and a half years
The challenges of the debt in pesos: in 2023 it will mature an average of $1 billion per month
Investments: only 2 instruments beat inflation in August
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
