The BCRA ordered that as of this Tuesday economic agents that have sold soybeans under the “Export Increase Program”, which implies a higher exchange rate, will not be able to access the market to purchase foreign currency or carry out “operations with titles and securities with settlement in foreign currency “, although later he clarified that “it is not applicable to human beings”.
“These measures are an isolated attempt to curb the purchases of financial dollars by companies. The BCRA seems to be very sensitive to the widening of the exchange rate gap. However, these twists and turns can be counterproductive since they add noise in the soybean complex in the short term, can slow down the very good performance of the “soybean dollar” and thus make it difficult to achieve the goal of net reserves with the IMF at the end of the month”, warned from Delphos Investment.
For StoneX, “This measure could stop or slow down the hitherto constant flow of foreign currency and overheat the parallel dollar”. It’s “impossible to plug multiple holes with one hand at the same time,” she added.
“The measure announced and implemented by the BCRA is going to have an impact on the flow of sales from producers, collectors, and cooperatives to exporters. This measure is detrimental to the soybean chain,” said Gustavo Idígoras, head of the Cereal Export Center.
The Central Bank closed the round this Tuesday with purchases for US$180 million, which added the eleventh consecutive day of increase in reserves after the implementation of a special exchange rate for soybean exports.
Today the path started on September 6 continued, when the monetary authority hoarded US$300 million, after the Ministry of Economy made official the application of an exchange rate of 200 pesos per dollar for soybean exports until September 30 next. Market sources estimated that since the beginning of the month, the monetary authority has already acquired around US$2,538 million.
Price of the blue dollar in the year
So far this year, the informal dollar advances $79 after closing 2021 at $208.
During the past year, the Dolar blue registered an increase of 25.3% ($42), half of the inflation rate for the period (50.9%). However, it is worth remembering that in 2020 it had shown a sharp jump of 111% (compared to 36% inflation).
During August, the blue dollar fell $6 (-2%) after ending July at $296. Let us remember that in the seventh month of the year, the parallel dollar it had climbed $58 (+24.4%), which represents its biggest monthly advance in the year so far.
Previously, it had increased $31 (+15%) in June, after rising $6.50 (3.2%) in May.
The parallel dollar rose 50 cents in April, and lost $11 in March, its worst performance in 14 months. Last February, it fell $6.50 (-3%), after rising $5 or 2.4% in January.
What is the blue dollar?
The value of Dolar blue It has a substantial difference with the official dollar, which is acquired in banks and has an established price. Its sale is in the informal market, without regulations or limits, and for this reason it is generally operated at a value greater than the official dollar.
Why is it called the blue dollar?
It is not clear the origin of Dolar blue as a name for ticket operation in the informal market. But there are theories.
An explanation of its name indicates that it is so called because in English, “blue”, in addition to naming the color blue, refers to something “dark”.
Another theory relates it to purchase operations through bonds or shares of companies known as “blue chips”. They also link it to the approximate color that appears when a fibron is applied to detect counterfeit bills.
Savings dollar price, Tuesday, September 20
The dollar I save or solidarity dollar-which includes 30% of the COUNTRY tax and 35% deductible of the Income Tax and of Personal property– rose 51 cents at $249.55.
Price of the tourist dollar, Tuesday, September 20
The tourist dollar or retail card plus COUNTRY Tax, and a perception of 45% deductible from the Income Tax and of Personal property– advanced 54 cents at $264.67.
More news about the Blue Dollar and the Dollar
Stocks for soybeans: they will not be able to buy the official dollar, MEP or CCL
Dollar: how to unsubscribe from the rate subsidy to access savings, MEP or CCL
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.
