The financial dollar remains with a slight variation this Monday, May 8, and remains at the same price as on Friday, after an advance of almost $20 on Friday. For its part, the MEP falls almost $1 and remains above $430. Thus, the CCL and the MEP operate with a difference of $9. All this is happening within the framework of the restrictions established by the National Securities Commission (CNV), which seek to keep the exchange rate gap at bay after the sharp jump observed in April.
In this context, the CCL dollar -operated with the GD30 bond- fell $0.16 (-0.04%) to $440.45. That way, it holds at almost the same price as Friday and the spread with the official stands at 96.06%.
For his part, he MEP dollar o Stock Market -operated with the GD30 bond- it yielded $0.63 (-0.15%) to $431.72, holding above $430. In this way, the gap remains at 92.17%, the maximum in 4 days.
Learn more – Follow the price of the blue, official, CCL and MEP dollar in Argentina
Short- and medium-term doubts trigger hedging in currencies that put pressure on the market and led the government to greater controls and hikes in interest rates.at a time when guidelines are being renegotiated with the International Monetary Fund (IMF) for a credit of 44,000 million dollars.
“The launch of new cross controls and the continuation of the intervention with dollars and with bonds ‘worked’ and the financial exchange rates fell again in the (last) week (rise of the peso). Stability that for now we consider to be temporary since the condition in general did not improve, but even worsened,” said the EcoGo consultancy.
“The government gives me the feeling that it has assumed that it has to reach the end of the year, hand over command, but it seems to me that it is already impossible to make a long or medium-term plan in an electoral situation, with this dynamic in terms of reserves , in terms of inflation, expectations,” analyst Javier Timerman said in radio statements.
“(The Government) has decided to go to the IMF, request the advances and make a strategy together with the Fund that implies some fiscal corrections, in the rate of devaluation, in exchange for certain things. What matters most to him is receiving dollars and being able with those dollars to do some intervention in the market and have some firepower,” he said.
Source: Ambito
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