In turn, the MEP dollar -valued with Global 2030- up $3.97 (+1.4%) to $293.63. Thus, the spread with the officer reaches 104.5%.
In the informal market, on the other hand, the blue dollar trades at $276according to a field survey in the Black Market of Currencies. Meanwhile, the gap with the official dollar reaches 92.7%.
Among the causes that propitiate the sharp jump in financial exchange rates are a worsening of conditions in the external context, pressured by expectations of a more aggressive rise in US interest rates than has been seen so far, at the same time as light of the latest data from the world’s leading economy.
“Although the worse-than-expected CPI data for Argentina could have revived the foreign exchange demand, I understand that mainly the acceleration of the MEP and the liquidity account responds to global phenomena”, commented to Ambit Juan Pablo Albornoz, economic analyst at Inveqc.
Inflation in the US showed higher data in August than was projected (8.3% vs. 8.1% year-on-year). In turn, core inflation, which excludes fresh food and energy, rose 0.6% monthly and 6.3% in annual terms, which implies an acceleration compared to the figure for July. “This accentuates the perception that the inflationary process is more difficult to tame than was believed,” Albornoz said.
Another factor that partly explains the strong rebound of the CCL and MEP is the increase in potential demand generated by the measure of the soybean dollar, count in the market.
“The strong increase in demand for the CCL and MEP could have its correlation with the settlements made by agriculture through the soybean dollar, but also because the market sees that, in the near future, a large amount of pesos in the market derived from the issuance by this measure can complicate the panorama of the fiscal deficit”, Economist Federico Glustein remarked to this medium.
The Central Bank (BCRA) closed the round on Thursday with purchases for US$300 million, with what he accumulated eighth consecutive day increasing the reserves. The BCRA continued the path started two Tuesdays ago, after the Ministry of Economy made official the application of an exchange rate of 200 pesos per dollar for soybean exports until September 30.
The measure was agreed upon with the main exporting complexes, which undertook to liquidate soybeans and derivatives for at least US$5,000 million. The volume traded in the soybean dollar segment today was more than US$455 million, according to Gustavo Quintana, an analyst at PR Corredores de Cambio. Market sources estimated that, since the beginning of the month, the monetary authority has already acquired around US$2 billion.
In this context, the board of the BCRA endorsed on Thursday an interest rate of 75% nominal (from the previous 69.5%) representative of the effective 107%to take the pressure off the dollar and weigh the new exchange rate in favor of soybean producers.
In addition, after the market closed, the Central Bank ruled that users who have requested subsidies in public service rates will not be able to buy savings dollars, MEP and CCL. “The Board of Directors of the BCRA established that the users of natural gas supplies through the network, electricity and drinking water, while they receive a subsidy in some or all of these services, may not access the official market or carry out operations with titles and other securities with settlement in foreign currency“, reported the monetary authority in a press release.
official dollar
The dollar today -without taxes- advanced 38 cents this Thursday, September 15, at $149.99 for saleaccording to the average that emerges from the banks of the local financial system. At Banco Nación, meanwhile, the retail bill closed unchanged at $149.
In addition, the dollar saved or solidarity dollar-which includes 30% of the COUNTRY tax and 35% deductible of the Income Tax and of Personal property– won 62 cents at $247.48.
In turn, the tourist dollar or retail card plus COUNTRY Tax, and a perception of 45% deductible from the Income Tax and of Personal property– rose 67 cents to $262.48.
Finally, the wholesale dollar, which is directly regulated by the BCRA, rose 30 cents to $143.60 this Friday.
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.
