In turn, the MEP dollar fell 94 cents (-0.3%) to $312.51, with which the spread with the official reached the 86.8%. In this way, it registered an increase of $18.59 (+6.3%) in the month, the highest since September.
In the parallel market, for its part, the blue dollar fell $1 back to $314, so the gap with the official exchange rate reached 87.7%. During November, the parallel dollar climbed $24 (+8.3%), the third strongest monthly gain 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.
For its part, the Government restored this week a special exchange rate of $230 for soybean transactions to stimulate its foreign currency settlements and strengthen the BCRA’s reserves.
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 rose 80 cents to $349.10, very close to the symbolic $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 $21.32 (+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- climbed 70 cents to $305.47 (earned $18.66 or 6.5% for the month).
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- rose 76 cents to $288.01 (up $17.59 or 6.5% for the month).
Price of the wholesale dollar, Wednesday, November 30
The wholesale dollar, that directly regulates the BCRA, it advanced 32 cents to $167.28. In November, the wholesale exchange rate rose 6.6% and for the year accumulated an increase of 62.9%.
Source: Ambito
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