Also, the MEP o Stock market rose by the same magnitude as the CCL to reach $ 178.36, which left a spread of 79.6% with the exchange rate regulated by the BCRA.
For his part, CCL “free” that is agreed through bilateral negotiations (SENEBI) -where the transactions are not marked on the electronic screens- or via ADRs, it operated around $ 195.50.
“A gradual slide in the freer implicit exchange rates has been validated due to the greater search for coverage, further tightening the” gap “and generating distortions, as well as fueling greater inflationary pressures,” said the economist. Gustavo Ber.
Brian Torchia, Manager of Corporate Finance at Pgk Consultores, and member of TGS Global, stated that “taking into account the inflation data for September, that regulated prices are contained, and even already with a certain lag, and that the measures sought in these days since the Secretary of Commerce point to maximum price agreements or temporary freezes, the scenario that is conjugated is that of a complex contained inflation that will probably seek to decompress from 2022, either through an acceleration of the general price level or well on the price of the dollar, in the framework of an excess of money in circulation “.
BCRA bought more than US $ 700 million since the last regulations
Based on the recent restrictions to operate with financial dollars, the BCRA was able to buy foreign currency for the eighth consecutive day.
The monetary authority acquired, in net terms, another US $ 65 million this Tuesday. Therefore, it continues to register the best October in a decade in terms of foreign exchange accumulation, with a positive balance of US $ 500 million so far.
It should be remembered that at the beginning of the month the BCRA and the National Securities Commission (CNV) coordinated a series of measures aimed at reducing the magnitude of the intervention of public bodies in the stock market to control the MEP and CCL prices, which implies loss of reserves. Since then, the entity led by Miguel Ángel Pesce has shown a result in favor of more than $ 700 million.
“The accumulated for the year already exceeds US $ 6,750 million, a result that of course is facilitated by the force of strong restrictions to access the purchase of foreign currency,” he remarked Gustavo Quintana placeholder image, from PR Corredores de Cambio.
The tenth month of the year is usually a sales month; Only in 2012 and 2016 was the BCRA able to end this period with a tiny positive balance. Taking this into account, sources of the economic team warn that it is likely that in the second there will be a lower inflow of foreign currency and greater outflow due to seasonal issues in demand.
In this frame, the wholesale dollar rose just four cents to $ 99.31, in line with the objective of the monetary authority to avoid a further devaluation that generates even more pressure on prices.
Market sources assured that during the conference “the stabilization of the price around the prices set by the Central Bank” was reflected, which was not modified at any time. “A slight increase in authorized demand at times balanced the genuine supply, without altering the underlying trend that always maintained a selling tone,” they added.
In the retail segment, the dollar today rose nine cents this Tuesday to $ 104.88 -without taxes-, according to the average of the main banks in the financial system. Thus, the savings dollar or solidarity dollar -which includes a 30% of the COUNTRY tax, and a 35% to Profit account- advanced 15 cents to $ 173.05.
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