The blue dollar rose for the fourth consecutive day and set a new historical record
The blue dollar scored his fourth consecutive rise, and touched $360, level historical nominal record that it reached at the beginning of the day, according to a survey of Ambit in caves of the City of Buenos Aires. Thus, the exchange rate gap increased again, but remained below 100%.
The casual dollar $2 became more expensive and closed at $359, pared her initial raise of $3 which led her to post her all-time high of $360.
Indeed, the exchange gap between the parallel dollar and the wholesale exchange rate was located at 98.7%.
The new jump responds, according to operators, to the increased demand from savers for tourism, but also as a hedge, in a context of excess of liquidity in pesos that accentuates this trend. In turn, the offer is limited after the Central Bank enabled the MEP exchange rate for foreign tourists to settle.
consulted by Ambit on the sustained rise of the blue, the economist Frederick Glustein He considered that the parallel market “is small and they have shrunk it with the incorporation of the dollar for foreign tourists, so there are incentives for part of the funds that enter this way not to continue in the parallel. There is less and less supply , thus, when the demand grows or there are large operations, the blue skyrockets“.
For his part, Natalia Motyl, Economist and CEO of NM consulting, also added international variables that feed the appreciation of the illegal dollar: “The institutional crisis in Brazil and the depreciation of the real, The rise in interest rates at the beginning of December from the world’s main central banks has an impact on emerging currencies. By last, the threat of an economic slowdown in China and the USA for the second quarter of this year. All these factors come together to make investors hedge by demanding more foreign assets.”
Source: Ambito
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