The financial dollars suffered drops of up to almost $6 this Monday, April 10, and the MEP closed again below blue for the first time in five days, in it debut of the new exchange rate of $300 for agricultural exporters, which did not register cash operations, when the government seeks imperiously swell the meager net reserves of the Central Bank (BCRA).
The dollar Cash with Settlement (CCL) – operated with the GD30 bond- it fell $5.14 (-1.3%) to $403.17. Thus, the gap with the official stood at 88.9%, the lowest level in seven days.
For his part, the dollar MEP or Stock Market -operated with the GD30 bond- $5.89 (-1.5%) depreciated, to $390.71. Thus, the spread with the official was reduced to 83.1%.
Find out more – I followed the price of the blue dollar, official, CCL and MEP in Argentina
In the parallel market, in turn, the blue dollar fell $1 (-0.3%) to $391 for sale, according to a survey of Ambit in the parallel market, with which the exchange gap remained at 83.2%.
The official need to obtain foreign currency led to the relaunch of a special exchange rate intended basically for soybean producers, who have until the end of May to sell positions at 300 pesos per dollar.
A similar measure was implemented last September and November, after the assumption of Sergio Massa in August at the head of the Ministry of Economy.
“On the first day of validity of the renewed stimulus plan for the export sector, there were no operations registered with the new regime,” said Gustavo Quintana, operator of PR Corredores de Cambio.
One economist argued that “It was surprising among the operators that it did not start, there is still uncertainty about some details but it should start immediately since it is no longer possible to support the currency drain that has been accumulating.”
In the bleeding of reserves, the BCRA had to sell 99 million dollars, after losing another almost 418 million last week, cut by the financial holidays of Thursday and Friday.
A growing inflation that would reach 110% this year, according to the latest “Survey of Market Expectations” (REM) carried out by the BCRA, puts more doubts on investments in a complicated electoral year.
“What Sergio Massa is trying to do is buy time”, said the economist Rodrigo Alvarez, and estimated that “In the medium and long term, what we see is that instability is going to grow.”
The International Monetary Fund (IMF) lowered Argentina’s net reserve accumulation target by the end of this year to $8 billion, from $9.8 billion previously.
“This week’s attention will be focused on the evolution of the exchange market with the agricultural dollar and on the inflation data for March that will be published at the end of the week,” said from Cohen Financial Allies.
In this framework, the country risk measured by the JP.Morgan bank it gave up 22 units, at 2,429 basis points. Dollar bonds maintained an adverse climate after the country lost a lawsuit in the London court over payments that four hedge funds sued for manipulation of the Gross Domestic Product (GDP) data in 2013, linked to the coupons receivable.
Price of the tourist dollar or card dollar, Monday, April 10
He tourist dollar or card -Retailer 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 $300 per month-advanced $3.43 to $386.28.
Savings dollar price, Monday, April 10
He savings dollar or solidarity dollar -which includes 30% of the tax COUNTRY and 35% deductible from Income Tax Earnings and Personal Property– rose $3.23 to $364.20.
Price of the wholesale dollar, Monday, April 10
The wholesale dollarwhich directly regulates the BCRA, escalated $2.17 to $213.39.
Price of the crypto dollar, Monday, April 10
He Crypto dollar or Bitcoin dollar falls 0.05% to $396.51, based on the average among local exchanges reported by Coinmonitor.
Source: Ambito
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