He The financial dollar regained strength this Wednesday, March 15, and shot up to almost $6, with Cash with “liqui” (CCL) threatening to approach the psychological level of $400, and with the MEP breaking a new record, in the midst of the turbulence of foreign markets before growing fears about the global situation of banksone day after the INDEC announced an acceleration of inflation to 6.6% per month during February.
Thus, the dollar CCL-operated with the Global 2030 bond- it bounced $4.44 (+1.1%) to $395.91. Thus, the spread with the wholesale exchange rate reached 95.5%. During Monday he played a new nominal intraday record of $400.41.
While, the MEP dollar-operated with the Global 2030 bond- it rose $5.51 (+1.5%) to $383.27, after touching $386.28 during the day, its intraday nominal maximum. Consequently, the spread with the official was 89.2%.
The increases in financial exchange rates occurred this Wednesday, before a new collapse of the world markets, after Shares of European bank Credit Suisse nearly lost a quarter of their value (-24.4%) after its largest shareholder said it could provide no further support.
“Just when financial markets seemed to be calming down after the SVB saga, the sell-off in European bank shares has resumed on concerns about the viability of Credit Suisse,” said Andrew Kenningham of Capital Economics. He added that “the problems at Credit Suisse once again raise the question of whether this is the start of a global crisis or just another ‘idiosyncratic’ case.”
“The markets are crazy. We went from the problems of US banks to those of European banks, first of all Credit Suisse,” said Carlo Franchini, head of institutional clients at Banca Ifigest in Milan.
The failure of SVB Financial and its peer Signature Bank had already stoked fears about the health of other banks, fueling hopes that the Fed would steer clear of sharp rate hikes at its next meeting to ensure financial stability.
Indeed, Argentine bonds in dollars sank to 3.2%, while Argentine shares plummeted to 9.5% on Wall Street, and the S&P Merval stock index collapsed 5%, to 209,319.92 units.
The Argentine country risk shot up 86 units, to 2,405 basis points, compared to a historical maximum level of 2,976 units noted at the end of last July and a start in the area of 1,083 points marked after a debt restructuring carried out in 2020. It was a day after INDEC revealed that inflation in February reached 6.6%, with which the accumulated figure in 12 months rose to 102.5%, its highest level in almost 32 years.
“In a context of uncertainty like the current one, it is difficult for the flows to go in search of a return assuming a greater risk, and there are no doubts about the risk that Argentina represents,” said Portfolio Personal Investments.
“The worst drought in 14 years -until now-; the constant trickle of reserves; the modification of the reserve goal with the IMF, the sovereign debt trading at around 27.5 dollars, considering the weighted average price; the monthly inflation at 6.6%, with the aggravating circumstance of the nucleus traveling to 7.7%; the debt swap in pesos with an acceptance of only 57%; and the icing on the cake, it is (an) electoral year”he explained.
The Central Bank (BCRA) had to sell another US$87 million, after on Tuesday it parted with another US$145 million of its reserves to supply demand at a time of lower currency settlements in the agricultural sector. “The peso is overvalued. We estimate that the currency needs to fall by around 30% to regain competitiveness,” Capital Economics estimated. “The government will do everything possible to avoid devaluation before this year’s elections, but kicking the can down the road simply increases the threat of a more destabilizing correction in the peso later on,” he estimated.
Qatar dollar price, Wednesday March 15
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- went up 52 cents and quoted to $419.24.
This exchange rate applies to consumption abroad with debit and credit cards over $300 per month.
Price of the tourist dollar or card dollar, Wednesday, March 15
The tourist dollar or retail card plus 30% of the COUNTRY Tax, and a perception of 45% deductible from the Income Tax and of Personal property for consumption with cards abroad up to u$s300 per month- earned 46 cents and operated on $366.84.
Savings dollar price, Wednesday March 15
The dollar savings or solidarity dollar -which includes 30% of the tax COUNTRY and 35% deductible from Income Tax Earnings and Personal Property– up 43 cents and offered to $345.87.
Price of the wholesale dollar, Wednesday, March 15
The wholesale dollar, that directly regulates the BCRA, it rose 49 cents to $202.56.
Price of the blue dollar, Wednesday March 15
He blue dollar increased $2 to $379 for saleaccording to a survey of Ambit in caves of the city of Buenos Aires.
Price of the crypto dollar, Wednesday, March 15
He Crypto dollar or Bitcoin dollar rises 0.8% to $385.49, based on the average among local exchanges reported by Coinmonitor.
Source: Ambito
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