The financial dollar scores its fourth consecutive rise this Monday March 20 and Cash with Settlement (CCL) reaches a new nominal maximum, when the global markets analyzed the consequences of the rescue of the Credit Suisse bank through the purchase by the UBS for 3,000 million francs (3,200 million dollars), in an acquisition backed by promises of unlimited financing from the main monetary authorities.
The CCL dollar -operated with the Global 2030 bond- rises 55 cents (+0.1%) to $404.06, after hitting a nominal record of $406.14 at the beginning of the day. Thus, the spread with the wholesale exchange rate reaches 97.5%.
Meanwhile, the MEP dollar -operated with the Global 2030 bond- it is trading near steady at $388.88. Indeed, the gap with the official is located in the 90.1%.
Global attention is focused on two fundamental points. On the one hand, “the continuation of the financial crisis and on the other hand, the decision of the Fed (US Federal Reserve) on Wednesday, March 22” regarding its interest rate policy, said Portfolio Personal Inversiones (PPI). Analysts are considering the possibility that the Fed could pause raising interest rates this week.
In the local market, doubts remain about the future of the economy, which is hit by rising inflation and a long drought that affects exports and the reserves of the Central Bank (BCRA).
On Wednesday the Treasury will hold a tender for bonds to cover maturities, which are mostly in private hands, commented analysts. “We believe that the Government needs a ‘good result’, and therefore, it is likely that it will take advantage of the margin to place in the short term and obtain a positive result”, said Portfolio Personal Inversiones (PPI). “Thus, we think that it ‘benefits’ from the new acceleration of inflation to seek demand from the private sector through short ‘Lecer’ (letters), “he estimated.
“The inflation data for February marked a change in expectations that favored the Dual (bonds),” they pointed out from StoneX. They added that “the intentions of a gradual and moderate decrease in inflation of the economic team are history, with monthly inflation that will hardly break the 5% monthly floor during 2023 and that for March in particular it would be above 7%” .
The country risk measured by the JP.Morgan bank rose 27 units, to 2,415 basis points, compared to a record high of 2,976 units recorded at the end of July 2022.
The BCRA had to get rid of some 554 million dollars of its reduced reserves last week to meet the needs of the market and provinces in the midst of a drop in the level of agricultural exports, operators commented.
“In the first quarter we will have had 6,000 million dollars less in agricultural liquidations. Probably the comparison against the next three quarters will be worse,” estimated the economist Martín Polo and noted that the “fall floor for all of 2023 is about 20 billion.”
The Andean Development Confederation (CAF) disbursed this Monday 285.4 million dollars of a credit granted to Argentina, which will become part of the BCRA’s international reserves, it was officially reported.
Qatar dollar price, Monday March 20
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- rises $1.84 (0.44%) and operates at $421.08.
This exchange rate applies to consumption abroad with debit and credit cards over $300 per month.
Price of the tourist dollar or card dollar, Monday, March 20
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- advances $1.61 (0.44%) to $370.06.
Savings dollar price, Monday March 20
The dollar savings or solidarity dollar -which includes 30% of the tax COUNTRY and 35% deductible from Income Tax Earnings and Personal Property– raises $1.52 (0.44%) to the $348.91.
Price of the wholesale dollar, Monday, March 20
The wholesale dollar, that is directly regulated by the BCRA, rises $1.21 (0.60%) to the $204.55.
Price of the blue dollar, Monday March 20
He blue dollar remains unchanged at $383 for saleaccording to a survey of Ambit in caves of the city of Buenos Aires.
Price of the crypto dollar, Monday, March 20
He Crypto dollar or Bitcoin dollar falls 0.30% to $393.33, based on the average among local exchanges reported by Coinmonitor.
Source: Ambito
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