On the other hand the MEP dollar falls 57 cents (-0.2%) to $291.69. Consequently, the spread with the official arrives at 88.1%.
For its part, the parallel dollar increased by $2 (+0.7%) and traded at $293, its highest value since the end of August, according to Ámbito’s survey of the Foreign Exchange Black Market. Thus, the exchange rate gap with the official wholesale dollar stands at 88.9%.
High inflation -which reached 6.2% in September and is projected to be above 100% for this year-, a high fiscal deficit and exchange rate pressures due to hedging are points that concern investors.
“While the economic authorities try to buy time to carry out the process of progressive balance of public accounts as unstable as possible in its economic and social consequences given the difficult situation, the political context does not show favorable signs”estimated Vat Net Financial Research.
“In addition to short-term challenges for investors, the local situation may pose medium-term problems for fund-taking companies,” he added.
The Minister of Economy, Sergio Massa, announced this Tuesday the Productive Advance Program, to strengthen the small and medium regional producer.
For his part, the risk country measured by the JP.Morgan It showed instability and traded four units higher, at 2,523 basis points.
The monetary entity bought scarcely 3 million dollars on Monday, after accumulating only 4 million dollars last week and taking some 5,000 million during September thanks to the validity of a special exchange rate for soybean exporters.
“It would seem that the daily amounts in the MULC (single and free exchange market) will not be relevant, and the purchases rather limited. But the important thing is to keep the arch undefeated and defend the ‘September’, the goals of the International Monetary Fund in this item are quite lax”noted the StoneX brokerage.
External markets showed less risk aversion, which benefits emerging markets, traders commented.
Source: Ambito
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