But The note of the day was given by the blue dollar, which climbed $ 1 to $ 188, that is, its new nominal record of 2021, according to a survey of Ambit in the Black Market of Foreign Currency. Consequently, the gap between the informal dollar and the official wholesale price reached 89.2%.
The freer dollars are fostering, day by day, a widening of the gap, at the rate that the fears of an acceleration of inflation grow, which is reflected in multiple hedges, both in spot dollars, and in securities and Common Funds of Adjusted investment (FCI) (CER and dollar linked), and future dollar.
Another of the salient facts of the wheel was that the Central Bank halted its currency buying dynamics, which had lasted for eight consecutive days since the last restrictions. It happened a day after the president of the monetary authority, Miguel Pesce, met with the leadership of the Argentine Industrial Union (UIA) to try to trace a path of some relaxation of restrictions, on the condition that companies do not take advantage of access to the official dollar to speculate on overstocking. So far this month, and as a result of those restrictions that will be in effect at least until the end of the month, the BCRA accumulates a positive balance of almost US $ 500 million in its interventions.
“We once again propose that although the recent measures of the BCRA may have the positive impact of allowing the accumulation of reserves, there is a double risk: on inflation (more prices adjusting the parallel TC) and on activity (for those who cannot import and incorporate a higher TC) “, commented from Neix.
Beyond the increase in volatility generated by the legislative elections on November 14, and with the effects of high inflationary pressure and a strong fiscal deficit fueled by monetary issuance, the market is focused on the country’s slow negotiations with the International Monetary Fund (IMF) to restructure a debt of about 45,000 million dollars.
As economic agents discount, and the government itself recognized, the agreement with the IMF will not be signed until next year. It should be remembered that the maturity profile with the Fund includes payments of US $ 3,350 million until March 2022: $ 390 million in November, $ 1.9 billion in December, $ 720 million in January, $ 370 million in February, and $ 2.8 billion in March.
Official dollar
The savings dollar or solidarity dollar -which includes 30% of the COUNTRY tax, and 35% on Profit account- closed unchanged at $ 173.05, since the retailer ended up at $ 104.88 -without taxes-, according to the average of the main banks in the financial system. In turn, the retail value of the US dollar traded without variants at $ 104.75 at Banco Nación.
In the wholesale segment, the currency increased four cents to $ 99.35, in a context of greater balance between genuine supply and demand, but with prices always fluctuating around the levels set by official regulation.
In the first part of the wheel the offer from abroad was imposed in its development, supplying the authorized purchase orders with a certain fluidity, they counted from the market. In the second tranche of the session, the demand intensified and balanced the initial imbalance, absorbing the selling positions with a relative impact on the price, which reached the maximum of the date at the end of trading at $ 99.35.
“Official activity alternated purchases and sales in the segment where banks and companies operate, compensating for temporary imbalances between genuine supply and demand”, described. The volume traded in the cash segment reached u $ s384.6 million.
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