In turn, the MEP dollar advances $3.92 (+1.3%) to $317.37, with which the spread with the official reaches the 89.7%. In this way, it registers an increase of $24.45 (+8.3%) in the month, the highest since July.
In the parallel market, for its part, the blue dollar goes back $1 to $314, so the gap with the official exchange rate reaches 88.7%. During November, the parallel dollar climbs $24 (+8.3%), the third most robust monthly rise of the year.
Argentina faces high inflation, which could reach 100% this year, and a significant fiscal deficit that is hitting the state’s accounts, a situation that creates a bleak outlook for investors ahead of an election year.
“While the slowdown in inflation (in November) is good news, the outlook ahead is challenging,” said Eugenio Marí of the Libertad y Progreso Foundation.
“Only between December and March 2023, the Treasury faces debt maturity for almost 4 trillion pesos, while the central bank (BCRA) is already close to accumulating 10 trillion pesos in remunerated debt. If financing in the domestic market begins to get complicated, as indicated by the latest tenders, this will leave the government more dependent on the monetary issue, which would accelerate inflation,” he estimated.
The Ministry of Economy of Argentina took on Tuesday an additional 7,642 million effective pesos (45.8 million dollars) during the second round of the so-called ‘Market Makers Program’, which are added to the 219,050 million pesos captured in the tender on Monday.
The Treasury “closed November with negative net financing of approximately 2,000 million (pesos),” said the StoneX brokerage, noting that “for the last month of the year, maturities total 410,000 million (pesos), of which it is estimated that the vast majority is in private hands.
“Given the fragility of the debt in pesos, and financial dollars at attractive levels, a good part of the corporate players decided to turn to the Globals in dollars to apply part of the surplus in pesos,” said Portfolio Personal Investments.
The country risk measured by the JP Morgan bank fell eight units, to 2,311 basic points, compared to its maximum historical level of 2,976 units noted last July.
The Government restored this week a special exchange rate of $230 for soybean transactions to stimulate its foreign currency settlements and strengthen the BCRA reserves.
After the application of the differentiated exchange rate, the BCRA managed to buy some 314 million dollars on two wheels from the wholesale market.
The field marketed this Tuesday 567,815 tons of soybeans 2021/22, almost double the 299,000 sold the previous day, thanks to the special exchange rate, said the Buenos Aires Grain Exchange. The figure is also much higher than the 78,303 tons traded on Friday, before the Government granted an exchange rate almost 40% higher than the official price.
Qatar dollar price, Wednesday, November 30
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 is up 92 cents at $349.22, very close to the token $350 level, and about $35 above blue.
This exchange rate applies to Consumption abroad with debit and credit cards over US$300 per month.
In November, the Qatari dollar rose more than $21 (+6.5%) and established itself as the most expensive in the market.
Price of the tourist dollar or card dollar, Wednesday, November 30
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- scale 80 cents to $305.57.
Savings dollar price, Wednesday, November 30
The dollar savings or solidarity dollar-which includes 30% of the tax COUNTRY and 35% deductible from Income Tax and Personal Assets- rises 76 cents to $288.11.
Price of the wholesale dollar, Wednesday, November 30
The wholesale dollar, that directly regulates the BCRA, It advances 30 cents to $167.26.
Price of the crypto dollar, Wednesday, November 30
The crypto dollar or bitcoin dollar rises 0.5% to $320.28, based on the average among local exchanges reported by Coinmonitor.
Source: Ambito
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