financial dollars closed mixed this Thursday, May 11, and both culminated above $440after the MEP climbed more than $9 in two days, with the investors expecting the inflation data for April, which will be released this Friday and that, according to various private estimates, it will remain at high levels.
Under official intervention and conditioned by the latest CNV restrictions, the dollar “counted with liquid” (CCL) -operated with the GD30 bond in the Price-Time Priority segment or PPT– hill stable at $441.64. Indeed, the spread with the officer was located in the 92.9%. Meanwhile, the dollar CCL SENEBI -bilateral negotiation- increased $2, to $452.
For his part, he dollar MEP or Bag -operated with the GD30 bond in the PPT market- rose $3.98 (+0.9%) to $440.07. So, the gap with the officer reached the 92.2%. At the same time, the dollar MEP SENEBI remained stable at $443.
In the caves, meanwhile, the blue dollar increased $3 to $475 for sale, so the gap exchange came to 107.4%.
Operators agreed that the Central Bank intervened firmly to stop the devaluation linethrough liquid currencies and sovereign bonds, in the face of reticent agro-exporters despite a special exchange rate for the sector.
“The dollar shelters you from the helplessness that inflation represents, especially when people run away from the peso, except for those who risk the exorbitant interest rates that the market has”said analyst Marcelo Rojas.
His colleague Salvador Vitelli highlighted that “with the reserves under pressure (…) the purchases (of foreign currency) of the Central Bank do not rise despite a better liquidation of the ‘agricultural dollar'”.
On the other hand, the INDEC will release this Friday the retail price index (CPI) for April, a period in which private analysts forecast an average increase of 7.5%, after the surprise 7.7% in March, its highest levels in just over two decades.
“Higher-than-expected inflation, which cannot be ruled out, would trigger more purchases of dollars and it is feared for some currency run as we had last month, which is why the government closely monitors the price instantly,” explained a market agent.
Meanwhile, this Thursday the IMF affirmed that there are “positive” talks with Argentina to rediscuss goals of a last agreement, according to its official spokeswoman, linked to the historic drought that affected the public coffers of the Government. The spokeswoman made no reference to an expected advance of fresh funds to help the BCRA reserves.
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