Something narrower -by presumed official intervention- was the rise of the MEP dollar, which rose $3.80 (+1.1%) and reached $344.03, which marked an official spread of 88.8%. During the day, he went on to mark a nominal all-time high of $351.81.
In a hyper volatile day, the Dolar blue raised $1 until the $370according to a survey of Ambit in caves of the City of Buenos Aires. There was marked dispersion of prices, to such an extent that during the day it fell to $366, and shot up to $375 at the beginning of the day. Indeed, the gap with the official it reached 103.1%.
Since Thursday of last week, the upward rhythm that the parallel dollars had been showing, in particular the financial ones, was accentuated, which seized the vertiginity that had previously been exclusive to the blue.
The adjusted reserves of the Central Bank (BCRA), a prolonged drought that affects the agricultural sector with millions in losses and the recent largest monetary issue These are some of the factors that explain the reason for the sustained rise in parallel dollars, according to market analysts. “There are risks that could accelerate inflation where we have: the impact of the drought could put even more pressure on the exchange rate and reserves (…) a possible drop in interest rates (from the BCRA) if monthly inflation moderates and the risk of a possible electoral package”, they said from the ACM consultancy.
Meanwhile, from PPI they consider that “the excess liquidity of the previous months, coming from soybean dollars I and II (2.1% GDP) and the purchase of Treasury bonds (2.1% GDP) by the BCRA, begins to crystallize on financial dollars.”
For his part, Alfredo Romano, director of the economic consultancy Romano Group, listed among the factors that drive financial dollars “the extraordinary issuance of December, the delay in real terms of the CCL and the MEP, and the fall in the demand for pesos that deepened in these next 40 days.” But in addition, the specialist highlighted to Ámbito that “The market is beginning to value the enormous drought that will materialize in significant losses for the productive sector and therefore in less currency liquidation and tax collection.”
Another guideline that the operators do not neglect arises with the Government’s call for extraordinary sessions of Congress to analyze 27 different projects, highlighting the political trial of the members of the Supreme Court of Justice (CSJN) and its expansion.
In this sense, Romano believes that “the advance of the ruling party on the Supreme Court of Justice” also contributes to a greater dollarization of portfolios, since “He ends up blowing up the possibility of an agreement between the ruling party and the opposition to generate consensus on economic matters. This materializes in the uncertainty that is increasingly evident with the rollout of the Treasury debt and the possibility that the BCRA will have to intervene more pronouncedly in the coming months to maintain the price of sovereign securities in pesos.
Meanwhile, the BCRA managed to add some 4 million dollars to its reserves, after the surprise purchase of 200 million last Friday. This way, It has accumulated US$285 million in the month of January (vs. US$204 million in the same period 2021).
“The administration of the situation carried out by the Government will continue to face an unstable macroeconomic balance in 2023. Although the closest challenge will be to ‘get through the summer’, the subsequent seasons will have their own difficulties, more influenced by the dynamics of the political-electoral transition”, estimated the consultancy Ecolatina.
As an aggravating circumstance, to the current rebound in financial dollars, “We are approaching February, a month characterized by a seasonal drop in the demand for pesos (also observable as a rise in the demand for dollars)”, warned from PPI. Faced with it, The Central Bank’s decision to keep interest rates unchanged “was judicious”they pointed out.
Qatar dollar price, Monday, January 16, 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- amounted to $1.88 a $378.94.
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, Monday, January 16, 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 rose $1.64 and was offered at $331.57.
Savings dollar price, Monday, January 16, 2023
The dollar savings or solidarity dollar-which includes 30% of the tax COUNTRY and 35% deductible from Income Tax and Personal Assets- it advanced $1.55 and traded at $312.63.
Price of the wholesale dollar, Monday, January 16, 2023
The wholesale dollar, that directly regulates the BCRA, it appreciated 85 cents to $182.20.
Price of the crypto dollar, Monday, January 16, 2023
The crypto dollar or Bitcoin dollar rises 0.25% until the $355.77, based on the average among local exchanges reported by Coinmonitor.
Source: Ambito
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