In turn, the MEP dollar scores its fifth rise in a row, climbing $1.18 (+0.4%) to $298.89, its highest value in six weeks. Consequently, the spread with the official reaches 84.4%.
In the parallel market, for its part, the dollar blue is stable at $293. Thus, the gap with the official reaches 82.3%.
Investors’ doubts about the performance of the economy in the last part of the year were reflected in the start of the week with selective and mixed trading, in a context of reduced business in general.
The weakened reserves of the Central Bank (BCRA), at a time of lower agricultural exports, a persistent inflationary escalation and low adherence to a recent local debt swap, are issues that worry investors.
“The little private participation in last week’s debt swap in pesos shows the doubts the market has. This covers not only the large number of maturities in 2023 but also what the next government can do,” said Fundcorp’s Roberto Geretto. “Debt in pesos and reserves (of the BCRA) are the two urgencies that the economy has because they are potentially destabilizing if the dynamics worsen,” he said.
The BCRA accumulates so far in November sales of its reserves for some 763 million dollars in response to genuine market needs, in the midst of strict exchange controls.
The head of the monetary authority, Miguel Pesce, said in radio statements that “we had inquiries in recent times from companies that ask us to use the yuan, not to use other currencies. President Alberto Fernández is going to work on this with Xi Xinping, that these Chinese investments have guarantees, can be made in yuan, where the currency swap plays an important role”.
The president, Alberto Fernández, and the Minister of Economy, Sergio Massa, are in Bali to participate in the annual meeting of the G20.
The Argentine country risk, measured by the JP Morgan bank, fell 12 units to 2,469 basis points.
“With the increasingly strong exchange rate tension and with inflation without signs of moderation, investors take refuge in short-term instruments and continue loading debt maturities in pesos to the electoral transition”said Cohen Financial Allies. “Until the end of 2023, we will have to face maturities with private companies for almost 9 trillion pesos, double that of this year”he claimed.
“We estimate that, if agriculture liquidated 8 million tons of soybeans from the 12/13 that it has saved, the BCRA could buy 2,700 million dollars, which would demand a monetary issue for 1% of GDP,” said Portfolio Personal Inversiones -PPI -. Operators do not rule out the implementation of new incentives to attract the liquidation of agriculture.
“The biggest driver of the week will surely be the inflation data for October,” they indicated from PPI and pointed out that “logically, the results presentations will continue to be the biggest driver for individual papers.”
Savings dollar price, Monday, November 14
The dollar savings or solidarity dollar-which includes 30% of the tax COUNTRY and 35% deductible from Income and Personal Property Tax- earn 64 cents a $277.46.
Price of the tourist dollar, Monday, November 14
The tourist dollar or card -retailer plus COUNTRY Tax, and a perception of 45% deductible from Income Tax and Personal Assets for consumption with cards abroad of up to US$300 per month- advances 68 cents to $294.28.
Qatar dollar price, Monday, November 14
The new qatar dollar -which includes 30% of the COUNTRY tax, 45% deductible from Income Tax and Personal Property TaxY a new perception of 25% to Personal Assets account- rises 78 cents to $336.32.
It is worth noting that this exchange rate applies to Consumption abroad with debit and credit cards over US$300 per month.
Price of the wholesale dollar, Monday, November 14
The wholesale dollar, that directly regulates the BCRA, earn $1.11 until you reach $161.81.
Price of the crypto dollar, Monday, November 14
The crypto dollar or Bitcoin dollar falls 0.8% and trades at $296.06 based on the average among local exchanges reported by Coinmonitor.