The financial dollars closed with marked increases this Tuesday, May 16, as a result of persistent hard currency hedges in the face of high inflation, which prompted the Ministry of Economy to take various measures and waiting for economic news, after the word of the International Monetary Fund (IMF).
After the Government announced that it is going to maintain intervention in alternative exchange rates, and even strengthen it, the dollar “counted with liquid” -operated with the GD30 bond in the Price-Time Priority or PPT market- rose $2.83 (+0.6%) at $447.43. Thus, he reached his highest value in 11 days. Indeed, the spread with the officer was located at 93.6%. But the one who showed the greatest firmness in the day was the dollar CCL SENEBI -bilateral negotiation, in which the Government does not intervene- that advanced $10 to $485.
Meanwhile, the dollar MEP or Bag -operated with the GD30 bond in the Price-Time Priority market or PPT– increased $4.77 (+1.1%), until the $442.43. So, the gap with the officer reached the 91.4%. At the same time, the dollar MEP SENEBI raised $3 to finish at $460.
The Government announced on Sunday a package of measures that seek to contain the escalation of retail prices and sustain the value of the dollar, with an annual rate of 97%, more interventions in the exchange market and agreements with creditors, basically new goals with the Fund International Monetary Fund (IMF).
“We are evaluating the measures. As we have said before, we continue to discuss ways to strengthen the program and safeguard stability in light of the severe drought” in agriculture that has caused the coffers of the Central Bank (BCRA) to lose millions of dollars.said an IMF spokesman. He added that “this includes policies to improve fiscal sustainability and build reserves, both essential to reduce inflation, while protecting the most vulnerable.”
A context of economic mistrust, a few months before a presidential election, is driving investors away from instruments in pesos and the dollarization of portfolios deepens.
The Central Bank (BCRA) was able to buy from the market about 40 million dollars. “Today (Tuesday) payments for energy imports were registered for about 50 million dollars,” said Gustavo Quintana of PR Corredores de Cambio, and noted that so far in May the entity has accumulated a negative balance of about 51 million dollars for its reserves.
For his part, the economist Gustavo Ber estimated that “with a ‘crawling-peg’ (devaluation) that is losing pace, and a new rate hike that leaves little flavor to tempt savers, attention remains focused on the dynamics of net reserves, since adding foreign currency is key to seek to stabilize the spirits a bit, and in this sense, all eyes are directed towards the IMF”.
The idea of having a positive rate against inflation is to stop the flight from holding pesos in favor of the dollar, now placing the monetary policy yield as the highest in a little over two decades: 97% annual nominal ( TNA) is equivalent to 154.3% as effective annual (TEA) and 8.1% monthly.
Following the announcements of new measures to alleviate the impact of inflation in April, the Economy Ministry launched a key tender for its financial strategy. The Treasury will seek this Wednesday to capture some 320,000 million pesos in Bills and Bonds in pesos, and some 350 million dollars in titles tied to the US currency (dollar linked), he said.
How much did the dollar close today, Tuesday May 16
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- went up $1.96to $484.74.
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% COUNTRY tax and 35% deductible from Income Tax and Personal Assets- it advanced $1.62 and finished at $399.91.
Meanwhile, the dollar wholesalerwhich is directly regulated by the BCRA, increased 40 cents and ended at $231.10 for sale.
How much did the tourist dollar close at, Tuesday, May 16
He tourist dollar or card -Retailer plus 30% of the COUNTRY Tax, and a perception of 45% deductible from the Income Tax and of Personal property for consumption with cards abroad up to u$s300 per month- increased $1.72 and closed to $424.15.
Source: Ambito
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