Dollar blue, with a frantic rise: this is how the last day of the week started in the caves

It describes that, in the first fortnight of January, the Dolar blue It showed a low level of activity, but little supply and stronger demand. “That translated into price increasessomething to be expected because, seasonally, January is usually a month in which the market reacts upwards”, Quintana comments.

Blue dollar: this is how the market moves these days

Thus, according to details, what is happening is that the market it’s not very fluid and, consequently, there is dispersion in the price. “This is normal behavior,” Quintana says in this regard and ensures that this is usually noticeable, especially when comparing prices in CABA with the rest of the country, where, this Friday, some caves are offering the blue for $376.

And it is that, as Joel Lupieri, economist at Epyca Consultores, points out, “like any non-transparent market, in which there is no institutionalized supply and demand scheme, there will always be disparities in the price found between different caves“.

However, it recognizes that this disparity may increase in some days due to multiple factors, such as the geographical distance from city to city, for example. And, he maintains that this Friday, “we are seeing a lot of movement, as a result of the great volatility that the stock dollars are showing and the appetite for dollars for tourism reasons.”

It should be remembered that this weekend is the change of fortnight and many tourists go on a trip at this time of the year: the second half of January, both in the country and abroad, so it is likely that many of those who go to another country buy dollars for these hours.

Also, a jump in financial prices was observed in recent days. In fact, this Friday, the dollar Cash With Settlement (CCL) goes up $5.02 and trades $348 and the bag (MEP) scale $1.63 and is positioned at $344.01

Less liquidity for the dollar card for foreigners

Likewise, as observed by the Bull Market Brokers Research team, in recent times liquidity has fallen between 50 and 60% due to the implementation of the dollar card for foreigners. “That subtracted between US$2 million and US$3 million of visiting travelers from the plaza’s offer,” they point out. And they assure that this offer that was lost is pushing up the price and cannot be offset by MEP surgery, due to the regulatory restrictions that exist to make large amounts. Not many can go to that market.

In this context, Lupieri observes that “the price is unarbitrated and, therefore, some may be higher than others, without giving time for the price to stabilize”. However, looking ahead, Quintana points out that this will possibly be a busy year. “We must not forget that we entered an election year and all expectations in terms of exchange dynamics are usually activated ”, he warns.