This weekend, the Government announced a series of measures to control inflationary dynamics. One of them is greater intervention in the foreign exchange market. Thus, it affected the financial dollars.
Following the announcement of the economic measures launched by the Government to control inflation, the financial dollars hit the highest in two weeksthis Monday, May 15, but the gap was widened with the blue dollar
Learn more.- Dollar today and dollar blue today LIVE: how much they operate this Monday, May 15
After the Government announced that it is going to maintain intervention in alternative exchange rates, and even strengthen it, and that it will take measures regarding the official dollar, the CCL rose $3.8 (+0.9%) to $444.60 and the MEP rose $3.35 (+0.8%) to $437.66.
The blue dollar scored its biggest rise in three weeks this day and once again exceeded $480, for which the illegal bill surpassed Qatar and became the most expensive exchange rate on the market. It should be noted that so far in May, in turn, the US currency registers an advance of $14, after ending April at $469.
Gustavo Berexplained that “although they started off relatively calm, with the running of the wheel, The deregulated and free financial dollars began rearranging in response to the latest measures announced, as operators anticipate that they would be ineffective in improving expectations. (or at least activate greed) in the current political-economic context. The hard inflation data and measures that are perceived as ineffective in this delicate scenario”.
The announcements came after April inflation reached 8.4% per month. In this context, the Government anticipated this weekend that The Central Bank (BCRA) will increase intervention in the foreign exchange market and will manage the pace of the crawling peg. Although it has been doing so, everything indicates that they are willing to reinforce these policies to contain and control as much as possible the exchange dynamics, which is a key element in the course of inflation in Argentina.
Source: Ambito
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