Likewise, the economist Christian Buteler points out that “those who are planning to go abroad go to the blue looking for a more convenient quote than that of the dollar card”. That, on the one hand, but on the other, indicates that the uptrend so marked is related to the fact that, beyond the seasonal issues that traditionally make the illegal dollar rise at this time of year, such as the payment of Christmas bonuses and end-of-year bonuses and purchases for tourism purposes, this time it is also observed that the plaza is relatively dry.
Blue dollar: how long will it go up?
“There are fewer bidders and any small but significant demand sends it up”, Glustein maintains. So, he anticipates that, hopefully, there will be major jumps that are going to last until it goes down a bit. the foam of tourismon the one hand, but also until players stop messing with the MEP, which reports more than $20 difference per dollar with the blue at this time.
“Everything seems framed in a dynamic of contraction of supply and increase in demand, either by tourism or coverage”, sums up the economist from Epyca Consultores, Joel Lupieri, in the same way.
Thus, when thinking about what is a good price to make a decision dollar salesthe analyst points out that, for the moment, “the current record sale price seems to be validated by investors looking to get the ticket.”
Is it a good time to sell dollar in the blue?
Meanwhile, another analyst from the City anticipates that, “surely, the ceiling is above $360”, taking into account that the Qatar dollar (which is the card dollar that is applied to purchases with national plastics once they exceed US$300) quotes $362 for these hours.
According to this logic, everything would indicate that could continue to raise a few more pesos in the coming days. “For this week we can still see an upward trend, but it may tend to drop starting in January, when the demand for foreign currency will be less,” anticipates Glustein.
Thus, answering the initial question of whether it is convenient to buy the blue dollar at this time, the obvious answer is that, in addition to the fact that it is an illegal market, you should never buy an asset when it comes with a very long uptrend, let alone when it hits record prices, because it could be near a ceiling, which limits the profit margin.
Meanwhile, on the other hand, yes it could be a good time to sell. “I believe that, for those who need pesos or want to do business, they can change their dollars between tomorrow and Friday, since the blue could continue to rise until the end of the yearbut I don’t think it will continue like this in January, since at the beginning of the month there is usually a higher demand for pesos,” recommends Glustein.
To which a City trader adds that “it’s a good deal to sell now and buy back the dollars in the MEP square if the saver can justify the origin of their pesos and has access to that market, which this Tuesday has a price of $333 per dollar”. Thus, the saver is guaranteed a profit of $23 per currency at this time.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
