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Thursday, March 30, 2023

The financial dollar rebounded after 5 consecutive falls and closed the month with a slight decline

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For his part, he MEP dollar– also operated with the Global 2030 bond- increased $1.40 (-0.4%) to $357.47. Consequently, the spread with the official ended in 81.3%. During February, the stock dollar registered a advance of $2.66 (+0.8%).

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In the parallel market, meanwhile, the blue dollar fell $2 to $375according to a survey of Ambit in caves of the City of Buenos Aires. So, the gap with the official exchange rate arrived to 90.2%, the lowest level so far in 2023. In the second month of the year, the parallel showed a decrease of $6 (-1.6%), the first since last September.

He Central Bank (BCRA) ended February with a negative balance for your reservations of about US$871 million to supply genuine market needs.

Investors await announcements from the International Monetary Fund (IMF) about a possible relaxation of the quarterly objectives agreed with the country a year ago.

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Operators expect the agency to agree with the Government on a reduction in the required volume of reserves from the central bank (BCRA), at a time when the drought suffered by the countryside complicates the liquidation of dollars.

“Beyond the very short term, the Government is focused on achieving bridges to reach the end of the year. For this, it is advancing in an agreement with the banks to kick maturities in pesos in the coming months and seeks to relax the goal of March international reserves with the IMF”, said the consultancy Eco Go.

The Government has as objective so far that net reserves increase by 5,500 million dollars at the end of March and $9.8 billion at the end of the year. Net reserves are currently around $4.4 billion, according to a private estimate.

The BCRA ended the session with purchases for some 20 million dollars, with which it has accumulated a foreign currency loss of some 1,080 million dollars so far this year.

“Getting out of the stagflation trap requires much more than an exchange rate consistent with the balance of external accounts,” said a report from the Mediterranean Foundation. “To avoid entering a vicious circle of devaluations and inflation, the only effective anchor is to go from deficit to fiscal surplus, operating on excess public spending. It is also not enough to eliminate the stocks and normalize foreign trade, since it is necessary to deepen the external insertion of Argentina if a sustained growth of quality jobs is to be achieved”, estimated.

The Fich rating agency said it expects financial and credit pressures to intensify in the country in 2023, while the capitalization of banks eases the government’s exposure. Operators do not rule out the launch of a voluntary bond exchange to move to 2024 the debt with upcoming maturities that is in private portfolios.

The Argentine country risk, measured by JP Morgan bank, it remained in the balanced area of ​​1,958 units.

Qatar dollar price, Tuesday, February 28

He qatar dollar -which includes 30% of the COUNTRY tax, 45% deductible from Income Tax and Personal Property Taxand a new perception of 25% on account of Personal Assets- he earned 54 cents and offered to $408.78. In the weekly accumulated rose $20.06.

This exchange rate applies to consumption abroad with debit and credit cards over $300 per month.

Price of the tourist dollar or card dollar, Tuesday, February 28

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 for consumption with cards abroad of up to US$300 per month- increased 47 cents and traded at $357.68. In the weekly accumulated raised $17.55.

Savings dollar price, Tuesday, February 28

The dollar savings or solidarity dollar -which includes 30% of the tax COUNTRY and 35% deductible from Income Tax Earnings and Personal Property– rose 45 cents to the $337.24. In the weekly accumulated raised $16.55.

Price of the wholesale dollar, Tuesday, February 28

The wholesale dollar, that directly regulates the BCRA, rose 34 cents to $197.15. In the week it went up $10.15.

In February the wholesale exchange rate rose 5.4% and in the first two months of the year 11.3%

Price of the crypto dollar, Tuesday, February 28

He Crypto dollar or Bitcoin dollar rises 0.2% to $366.93, based on the average among local exchanges reported by Coinmonitor.

More notes on Dollar and Dollar blue

Source: Ambito

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