On the other hand the MEP dollar advanced $1.26 to $291.89. Consequently, the spread with the official reached 88.6%.
The market speculates with a forthcoming launch of new economic measures that help reduce high inflation that could exceed 100% this year, in the midst of a large fiscal deficit, exchange controls and reduced reserves in the coffers of the central bank.
“This week will be marked by the results of the leading inflation indicators for October. Also by the evolution of the exchange market given that, as is known, demand is under more pressure during the last week of each month,” they said from Cohen.
“The new import control system, translated into a greater ‘stocks’, had a not very auspicious first week”, commented Roberto Geretto of Fundcorp.
The monetary entity accumulated during the past week scarcely four million dollars for its reserves through purchases in the wholesale segment, compared to acquisitions for some 5,000 million dollars made during September when a special exchange rate was in force for soybean exporters, operators commented.
“Although the tie helps the BCRA to meet the IMF’s reserve target, it is another sign that the stocks have already given everything they had to give, and it will be very difficult for the government to avoid the bleeding of dollars,” Geretto added.
Source: Ambito
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