MEP dollar: how to buy the bill that operates $40 below the blue and what bonds should be used

A week ago, the National Securities Commission (CNV) prohibited the possibility of carrying out financial dollar purchase and sale operations (MEP and CCL) to those investors who have a debit guarantee (in pesos or in dollars) in their possession. The move had a calming effect on the exchange marketbut also affected the dynamics of operations, since the prices of the stock exchange rate fell a lot which was traded against some more liquid bonds, such as the Global 2030 (GD30). And, although this was an immediate reflection, the dynamics of those dollars are still rearranging, which is why some analysts explain which bonds it is convenient to operate with dollar MEP Currently, according to an operator from Ámbito City, “if we compare it with the blue dollar, the price today is cheaper.”

For those who do not know how the financial market works, it is important to know that when an investor has pesos and buys MEP or CCL, first acquire a title in pesoswait for the days corresponding to the instrument used, and then sell that same title against dollars.

In this framework, the purpose of the new standard was curb the leveraged purchase of the dollar stock market and cable, since it sought to prevent An investor who is borrowing money from the market via bonds or repos to buy a title will then sell it against the MEP dollar or Cash With Liquidation (CCL).

MEP dollar: the most convenient instruments to buy

From Inviu, the market expert Mateo Reschini indicates that, “although, at first, there were days with slightly more massive sales towards the end of the wheel that could leave an exchange rate that is not very convenient today, The market was much more arbitrated” and There are no longer so many price differences between one instrument and another.

However, one market trader reports that “today, the three most widely used instruments to buy MEP are AL30, GD30 bonds and discount bills (LEDES)although, in the latter case, the shortest one is always used, which expires at the end of the month”.

These investor choices, as explained by the economist Joel Lupieri, from Epyca Consultores, are due to the fact that “generally, Argentine government bonds are used, which are the most liquid instruments on the market.” And he adds that the GD30 has good legislation (NY) and a high volume traded. In addition, another market voice clarifies that, while the Central Bank (BCRA) is intervening in the GD30, as it has been doing for weeks at the request of the Economy, the MEP purchased against that bond is the cheapest of all.

Buy MEP dollar and mash: this is what you need to know

It happens that, as explained by the Bull Market Broker Research team, “today, the Central Bank is supporting the price of GD30 by buying bonds in dollars”. Thus, they indicate that a good alternative for the investor or saver is to buy this type of bonds in immediate cash to sell them against dollars the next day also in immediate cash and, thus, in 24 hours, have the dollars in their account.

So, with a MEP dollar that is around $433 for these hours and a blue that is around $473, the financial exchange rate is very convenient for those who have pesos these days. In addition, many think of that market to go shopping and then make the famous “purée”, which is to sell those tickets that were bought cheaper in the official parallel market in blue and make a difference, which today is around $23.

However, it must be remembered that “it must be taken into account that the operation with MEP has a parking day. In other words, after buying the bonds, you have to wait, by regulation, one day to be able to sell them against dollars. That, on the one hand, and, on the other, of course, is a purchase that must be made with “blank” funds, which are deposited in a bank account.