Financial dollar scored this monday april 17 its third rise in a row and the “Cash with liquid” (CCL) was within range of its nominal record, a trajectory to which the blue joined, which jumped $8 at the end of the day, by way of coverage shots after the bad inflation data for March, and given the persistent doubts about the economic future, within the framework of an election year.
in the stock market, and despite noticing a strong intervention on the closings in the bond market -according to operators-, he dollar CCL-operated with the GD30 bond- it climbed $5.09 (+1.3%) to $409.97, very close to its nominal high of $411.60 posted earlier in the month. In this way, the gap with the official was located at 89.5%.
On the other hand the dollar MEP or Bag -operated with the GD30 bond- stopped its upward trend and it yielded $3.13 (-0.8%) to $395.49, after scoring its biggest daily rise in three months on Friday.
Meanwhile, in the parallel market, the blue dollar jumped $8 and closed at $408, its new all-time nominal record. Operators estimated that the trigger for the rise of the dollar in the informal market was the inflation data for March, which rectifies the backwardness of the exchange market.
After the 7.7% CPI last month, analysts forecast annual inflation above 110%, at a time when a severe drought hit agricultural exports, the Central Bank (BCRA) reserves are compromised and a high fiscal deficit hits the government coffers.
Other market sources consulted by Ambit agreed that the escalation of the parallel occurred from a “scarce supply”, so it is logical that “prices react with rises”, although they believe that “Probably near the end of the month the advance will be reduced due to the need for pesos.”
The BCRA managed to buy some 73 million dollars from the market for its reserves, thanks to liquidations for some 146 million dollars coming from liquidations of the so-called agricultural or soybean dollar, which grants a special exchange rate for the liquidations of the sector in order to swell the reserves.
“The other side (of the soybean dollar) is that the best exchange rate for exporters is associated with a monetary expansion, since at the macroeconomic level the soybean dollar is equivalent to a reduction in withholdings financed with monetary issue,” explained Fundcorp economist Roberto Geretto and stated that “In this scheme, accumulating reserves is opposed to lowering inflation.”
Along the same lines, from Aurún Valores, they said that “The resulting issuance of the soybean dollar, despite the fact that it allows reserves to be accumulated, is already causing strong issuance in a market saturated with pesos. In just 4 days of operations, 3.5% of the average BM for the month of March was issued.”
In another order, this Sunday the provincial elections (Neuquén and Rio Negro) started and the disputes in the coalitions are intensifying on the way to the definition of the candidacies. Despite this scenario, “investors still seem inclined to try not to hear these noises and pay more attention to the possible scenario that the elections would leave”, said the economist Gustavo Ber.
In turn, the operators are attentive to eventual progress in the debt swap after the favorable technical opinion that said operation finally received. This Monday, the opinion of the Faculty of Economic Sciences of the UBA on the exchange of public debt proposed by the Government was known, by which official entities must exchange their bonds in dollars (New York Law) for a new Dual bond with expiration 2036, which supports the operation generates a neutral effect for the consolidated public sector.
“It must be taken into account that the study is only done on the accounting gains or losses in the portfolios of the evaluated organizations and lacks a comprehensive macroeconomic analysis,” said Portfolio Personal Inversiones (PPI).
How much did the official dollar close today, Monday, April 17?
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- it rose $3.24 to $446.78. This exchange rate applies to consumption abroad with debit and credit cards over US$300 per month per person.
For his part, he savings dollar or solidarity dollar -which includes 30% of the tax COUNTRY and 35% deductible from Income Tax Earnings and Personal Property– increased $2.67 to $368.59.
Meanwhile, the dollar wholesalerwhich is directly regulated by the BCRA, it appreciated $1.28 to $216.38.
Price of the dollar card, Monday, April 17
He dollar card or tourist -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 US$300 per month- advanced $2.83 to $390.93.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
