In turn, the MEP dollar advanced $4.58 (+1.6%) to $299.49, the highest in almost two weeks. Consequently, the spread with the official reaches 97.2%.
In the informal market, on the other hand, the The blue dollar recorded its third rise in a row, climbing $2 (+0.7%) to the $291, according to Ámbito’s survey on the Foreign Exchange Black Market. With this advance, the gap with the official exchange rate closed at 92.3%.
The Government began to apply from this Thursday a adjustment on the tourist dollar, which affects consumption with credit and debit cards in foreign currency, trips abroad, luxury goods, recitals and sports activities for new purchases and contracts. It is for those who consume more than u$s300 monthly and does not include expenses on digital platforms.
The rise in financial exchange rates occurred one day before the INDEC ratifies a new strong monthly inflation, when seeking to reduce the fiscal deficit and protect the reserves of the Central Bank (BCRA).
According to the September REM published last week by the BCRA, the consumer price index for September will be at 6.7%with a projection slightly above 100% for 2022, which triggers claims for wage increases.
“The market redoubles its prudence, continues to buy dollars as always given the multiplicity of exchange rates, there are occasional purchases in shares, but bonds are sold due to global risk aversion (…) it is evident that strength is also lacking, because of the smaller volume that moves each day”, explained a financial agent of the foreign private bank.
Meanwhile, the board of the monetary authority could soon decide a new increase in its reference rate to accompany the high inflation that complicates the economy, a source with knowledge of the matter told Reuters.
“The ‘blue’ dollar goes up and down, and it is not something that is of concern to the Government”, said in the morning Gabriela Cerruti, presidential spokesperson in her weekly press round. In it, the official He did not want to refer to the rumors in the market about a potential launch of a stabilization plan for the economy of the country from November that would include: freeze prices, salaries, dollar and rates for a reduced place, according to Scope anticipated.
“The solution lies in a stabilization program”, pointed out from the Latin American Economic Research Foundation (FIEL), although they estimated that “It does not seem likely that the Government will undertake this program. In fact, the probability will be reduced the closer we get to the 2023 (presidential) elections.”
“On the other hand, it is possible that efforts will continue to bring the fiscal result closer to the goals agreed with the IMF, that a somewhat positive interest rate will be targeted in real terms and that other versions of multiple exchange rates will appear and restrictions on the imports. That mixture would do little to sustain the level of activity or reduce the rate of inflation appreciably”estimated.
The main businessmen of the country consider that the acceleration of inflation is one of the country’s biggest problems and 70% believe that the local economic situation will worsen in the rest of the year.
For his part, the Minister of Economy Serge Massa announced from Washington that The country is close to reaching an agreement with the Paris Club to refinance a debt of slightly more than 2,000 million dollars, while the IMF said that support for Argentina is in the interest of its people.
The US consumer price index reached 8.2% in the 12 months to September, higher than estimates in a Reuters poll that put it at 8.1%, and after an increase of 8.3 % in August, a figure that dissipates hopes of a brake on the restrictive monetary policies of the Federal Reserve.
official dollar
The retail dollar -without the taxes- rose this Thursday 23 cents to $158.19, according to the average that arises from the banks of the local financial system. Meanwhile, the dollar bill in the Banco Nación stood at $157.25 – without taxes.
For its part, the dollar saved or solidarity dollar-which includes 30% of the COUNTRY tax and 35% deductible from Income Tax and Personal Assets- earned 38 cents at $261.01. AND
While the tourist dollar or card -retailer plus COUNTRY Tax, and a 45% deductible perception of Income Tax and Personal Property for consumption with cards abroad of up to US$300 per month- advanced 40 cents to $276.83.
The new qatar dollar -which includes 30% of the COUNTRY tax, 45% deductible from Income Tax and Personal Assets, and a new perception of 25% on account of Personal Assets – rose 46 cents on its first trading day to $316.38, after the Government formalized its start-up.
The wholesale dollar, which directly regulates the BCRA, rose 30 cents to $151.30. The volume operated in the cash segment was US$248.9 million.
The Central Bank concluded the day with sales of its reserves for about 60 million dollars to supply genuine demand. In the last five business sessions, the BCRA had to part with about 276 million dollars.
The volume traded in the foreign exchange market fell 18% to US$249 million.
Let us remember that with September the application of a special exchange rate for soybean exporters ended, which allowed the entity to increase reserves by some 5,000 million dollars, although now it is facing a last quarter of the year with few settlements in the agricultural sector .
In the ROFEX futures market, the dollar traded without major changes, or with slight falls. The currency for the end of October concluded with a rate of 82.16%, while for the end of November it closed at 102.03% of TNA. Almost US$500 million were traded.
crypto dollar
The crypto dollar or Bitcoin dollar rose 2.3% at the close of the markets and traded at $304.79, based on the average among local exchanges reported by Coinmonitor.
Source: Ambito
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