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Wednesday, February 8, 2023

Financial dollar: the CCL advanced for the third consecutive day but the MEP ended in decline

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The dollar CCL -negotiated with Global 2030 or GD30- it advanced 2.1% to $363.19, with which the gap with the official exchange rate climbed to 96.99%.

The dollar MEP -operated with the Global 2030 or GD30- decreased 0.1% up to $352.21, therefore, the spread with the official wholesale price reached 91%.

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In the parallel market, for its part, the blue dollar closed unchanged at $375, according to a survey of Ámbito in caves of the City of Buenos Aires. Indeed, the gap with the officer reached 103.9%.

“The announcement of the repurchase of debt made by the Government is a measure that aims to control the financial dollars. However, in the medium term the measure seems insufficient if the dollars used in these purchases result in a higher stocks that shifts demand towards financial dollars“, estimated Roberto Geretto, from Fundcorp.

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“One of the possibilities to use the repurchased titles would be to contract a guaranteed loan known as a REPO, which would provide liquidity to the Government to finance foreign exchange needs throughout the year,” estimated the consultancy Delphos Investment.

“For this, it would be very favorable if the downward trend of the country risk continues, which would help to improve the financial terms of this operation,” he said.

That official announcement (of doubtful repurchase) would only be understood as favoring future loans by improving expectations”commented VatNet Financial Research.

For its part, the BCRA had to part with some US$56 million of its reserves to supply the market, with which the January balance is reduced to a positive of US$81 million in market purchases.

“After a start to the year with net purchases, the BCRA returned to selling dollars in the last wheels,” said Roberto Geretto of Fundcorp.

“If we add to this dynamic that the drought would cost at least US$10,000 million in exports, that the IMF will be paid net US$10,000 million this year, and that there are approximately US$10,000 million in imports paid last year, the move to buy bonds appears to be a long shot,” estimated.

Qatar dollar price, Monday, January 23

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- advanced $2.02 Y finished a$383.32 for sale this Monday.

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 23

The tourist dollar or retail card plus 30% of the COUNTRY Tax, and a perception of 45% deductible from the Income Tax and of Personal property to consumption with cards abroad up to u$s300 per month- rose $1.77 and traded at $335.41.

Savings dollar price, Monday, January 23

The dollar savings or solidarity dollar -which includes 30% of the tax COUNTRY and 35% deductible from Income Tax and Personal Assets- advanced $1.67 was sold to $316.24.

Price of the wholesale dollar, Monday, January 23

The wholesale dollar, that directly regulates the BCRA, it rose 95 cents and traded at $184.40. Last week, the wholesale exchange rate it rose $2.18 (+1.2%), the highest weekly correction since late last December.

Source: Ambito

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