For its part, the “free” CCL that is agreed through bilateral negotiations (SENEBI) -where transactions are not marked on electronic screens- or via ADRs operates above $ 190.
Likewise, the MEP dollar or regulated stock market also rises 0.8% to $ 177.87, which leaves a spread of 79.3% with the wholesaler.
For the consulting firm Equilibra, “The new regulations did not manage to remove pressure on the exchange gap: the difference between the intervened CCL (AL30) and the official dollar went from an average of 77.1% in the last week of September, to 78.6% in the last 5 wheels. In the case of the intervened MEP dollar, the rise was from 77% to 78.5% “.
On the other hand, they highlighted that “after the new restrictions on the operation with bonds and advance payments of imports, the total intervention of the BCRA in the exchange market (official and financial) went from adding sales of US $ 630 million in the week prior to the regulations, to net purchases for US $ 275 million in the last 5 wheels “.
On the other hand, Ariel Manito, general manager of PPI, highlighted that “after the latest measures, the volumes in the most controlled bonds – as is the case of the AL30s – fell sharply. It makes sense. Investors were recalculating, as often happens. in this type of situation – more specifically, each time a new regulation arises- “.
For Manito, “the reality is that there are more and more obstacles to operating some bonds, with which the investor must have to meet certain conditions, such as not having accessed the MULC or subsidized loans, to name a few. However, this type of actions achieves the desired effect, which is to reduce the rate of dollar outflow, after an intense September (and where the drain on reserves accelerated). It is also worth clarifying that these effects are usually very short-term, because the market always ends up finding its way around or getting used to the measures. All these restrictions or traps stop a problem, but do not solve it in the background. “
BCRA purchases: it is the best October in a decade
The Central Bank bought more than US $ 30 million in this last round and closed the week with purchases for US $ 360 million, accumulating in October net purchases for more than US $ 310 million.
On the day, he stood out volume growth to over $ 450 million well above average daily monthly and yearly.
It is October becomes the best of the last decade and the accumulated of the year of US $ 6,500 million in the second best of that period. However, sources from the economic team highlighted that “the outlook for the second fortnight is of lower foreign exchange income and higher outflow due to seasonal issues in demand“.
The currency rose 22 cents on the week to $ 99.18 (+ 2 cents today), the highest weekly correction of the last three weeks.
The highest values were recorded at $ 99.19, with the first operation agreed, three cents above the previous end. The authorized demand was somewhat more active on the date, a circumstance that reduced the possibility that the Central Bank had a significant balance in favor in its intervention today.
The lows were recorded mid-morning at $ 99.18 and remained almost unchanged until the end of the day. The monetary authority closed its weekly participation with net purchases, although at the lowest level in this period.
The Savings dollar or solidarity dollar -which includes 30% of the COUNTRY tax, and 35% on Profit account- rose 17 cents in the week to $ 172.76.
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