In turn, the MEP dollar fell 99 cents (+0.3%) to $311.81, after touching $320 and hitting a four-month high. Indeed, the spread with the official reached 89.1%.
In the parallel market, for its part, the blue dollar advanced $4 (+1.3%) to $312, so the gap with the official exchange rate reached 89.1%.
The looks of the market They focus on the low level of BCRA reserves, despite strict exchange controls, an annual inflation that would reach 100% this year.
“In the short term, the great risk in Argentina continues to be inflation, to which are added the BCRA reserves, which do not reach a floor,” said Adcap Financial Group.
“There are more pesos and fewer dollars, and the monetary authority is heavily intervening in the secondary market, especially buying 2024 bonds,” explained and estimated that “The underlying risk in the near term is that the CCL will continue to rise.”
“The upward rebound in currencies was foreseeable given the challenging local financial situation,” said VatNet Financial Research. “We believe that the critical variable to monitor is whether the BCRA manages to obtain a current exchange surplus, as an essential requirement to then continue advancing on other fronts,” he said.
For his part, the wholesale dollar rose 0.3% to $164.87under the persistent liquidity control imposed by the BCRA with purchases and sales of its reserves.
“Most likely, the Government will continue with its strategy of, on the one hand, accelerating the rate of devaluation -119% annualized devaluation in recent days-, promoting the liquidation of exports -with measures such as the special regime for the economy of the knowledge or for regional economies- and apply a greater import tourniquet and to the demand for foreign currency (tourist dollars, concerts, luxury goods, etc.)”, estimated the consultancy ABECEB.
Savings dollar price, Wednesday, November 23
The dollar savings or solidarity dollar-which includes 30% of the tax COUNTRY and 35% deductible from Income and Personal Property Tax- earned 54 cents at $283.55.
Price of the tourist dollar, Wednesday, November 23
The tourist dollar or card -retailer plus COUNTRY Tax, and a perception of 45% deductible from Income Tax and Personal Property Tax for consumption with cards abroad of up to US$300 per month- it advanced 58 cents to $300.74.
Qatar dollar price, Wednesday, November 23
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% on account of Personal Assets- it rose 66 cents to $343.70.
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, Wednesday, November 23
The wholesale dollar, that directly regulates the BCRA, it rose 33 cents to $164.84. The volume operated in the spot segment was US$274,305 million.
Source: Ambito
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