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Saturday, February 4, 2023

Financial dollar stops bearish streak and rebounds after touching its lowest value in three weeks

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However, the MEP dollar it posted its fifth consecutive loss, falling 65 cents (-0.2%) to $325.22, marking a spread with the official 80%.

In the parallel market, the Dolar blue raise another $3 to the nominal record of $360according to a survey of Ambit in caves of the City of Buenos Aires. Indeed, the gap with the official it reaches 99.2%.

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For the market, the Central Bank’s board of directors will keep its reference rate unchanged at 75% annually this Thursday, once the inflation for December and the accumulated inflation for 2022 are made official.analysts and other sources said Wednesday.

“We believe that the Central Bank will maintain the rate at this level throughout January (…) The government’s main fear is the dollar, for now activity is in the background,” explained Mauro Mazza, from Bull Market Brokers. “For February we expect some negative indicators and this could lead (the board of directors) to try something in the second fortnight after the January inflation data. There we calculate some drop, but testimonial of 125 to 150 basic points,” added.

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The INDEC will disseminate this Thursday at 4:00 p.m. the consumer price index (CPI) for last month and the previous year.

In a recent interview published by the newspaper Perfil, the Minister of Economy, Sergio Massa, maintained that last month’s data “would be with the 4 ahead” in reference to the fact that the monthly record would not exceed 5%, and added that “the objective is to put the 3 (monthly) ahead in April.”

A source from the BCRA itself told Reuters that “The latest polls indicate that the rate of (the letters) ‘Leliq’ will continue tomorrow (Thursday) at 75%, with a new analysis for February where, if inflation continues to fall, this interest rate will also most likely be lowered referential”. For his part, a spokesman for the monetary authority maintained that “I don’t have a casualty being studied on my radar” rates at the next board meeting, in line with what was stated by analysts and another official source.

The BCRA strongly increased its rate from 38% per year in January to 75% set in October, when it left this reference unchanged since the effective yield climbs to 107% and yields a positive yield compared to inflation.

“The Central Bank will reassess its interest rate policy, which would have been in positive territory in real terms for the second consecutive month (in December) with negative effects for its balance sheet and credit to the private sector”, said the consultancy Delphos Investment. “A prudent attitude could lead the monetary authority to maintain rates pending new data that confirms the slowdown in inflation (…) If it were to adopt a more lax position, it could decide on a moderate reduction, which would increase the pressure on the dollar,” he added.

A positive real rate is one of the points agreed between Argentina and the International Monetary Fund (IMF) in the latest “Extended Facilities” agreement.

Qatar dollar price, Wednesday, January 11, 2023

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 climbs 16 cents and trades at $376.38.

This exchange rate applies to Consumption abroad with debit and credit cards over US$300 per month.

Price of the tourist dollar or card dollar, Wednesday, January 11, 2023

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 rises 14 cents and trades at $329.33.

Savings dollar price, Wednesday, January 11, 2023

The dollar savings or solidarity dollar-which includes 30% of the tax COUNTRY and 35% deductible from Income Tax and Personal Assets- it becomes 13 cents more expensive and operates at $310.51.

Price of the wholesale dollar, Wednesday, January 11, 2023

The wholesale dollar, that directly regulates the BCRA, it becomes 34 cents more expensive and is offered at $180.72.

Price of the crypto dollar, Wednesday, January 11, 2023

The crypto dollar or Bitcoin dollar grows 0.8% until the $337.94, based on the average among local exchanges reported by Coinmonitor.

Source: Ambito

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