the MEP for its part, it rose $0.5 and traded at $352.78. The gap with the wholesaler was 89.9%. During the week it was almost stable compared to last Friday since it only grew 26 cents.
In the parallel market, for its part, the blue dollar advanced $1 to $386, according to a survey of Ámbito in caves of the City of Buenos Aires. Indeed, the gap with the officer reached 107.8%.
On the eve the BCRA announced a drop in the passive rates of the Common Investment Funds -FCI- to improve the relationship with the reference rate, after raising them at the beginning of the week after announcing a rise of 200 basis points in deposit rates for financial institutions.
“The BCRA wants to maintain relatively high very short-term rates to mitigate the rise in financial dollars“said Portfolio Personal Investments.
“We believe that, just as It goes in the direction of containing the ‘MEP’ and the ‘CCL’ when remunerating the “short” pesos and make leverage more expensive, too reduces the premium to be placed in “long” instruments, such as a Fixed Term. This does nothing but make monetary aggregates more liquidwhich implies a risk of acceleration of nominality”he explained.
“It is difficult to predict what they can do (from the Government) because they are in a dead end,” said the financial analyst Salvador Vitelli. “We’re looking at a pretty lagging dollar,” she added.
Vitelli recalled that the peso in the marginal market closed 2022 behind inflation, so “the economy at some point makes it adjust”, and estimated that “by the end of February it would be above 400 pesos“.
After the announcement by the Minister of Economy Sergio Massa of a repurchase of foreign debt for about 1,000 million dollars to improve the debt profile, the bonds in the OTC market operate with an improvement of 0.2% averagein a calm market and with some short profit taking after the recent rises led by dollarized issues.
“The parity of the (2030 bond) ‘AL30’ continues above 31% (31 dollars per bond) with a return required by the market of 34.5%”, said Rava Bursátil.
“It should be noted that this bond in dollars, issued under Argentine legislation, reached values of 18 dollars per bond in October 2022 with an IRR (required return) of 52% and, since then, it has accumulated a price increase of more than 72%,” he said.
Source: Ambito
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