For its part, the regulated MEP dollar rises 0.7% to $ 181.34 (gap at 81.45%), while in the segment not intervened by public bodies it is at $ 205.20.
“The freer references (of the exchange market) continue to act as a ‘thermometer’ and reflect the search for coverage of economic agents in the current climate of uncertainty,” said Gustavo Ber, economist at Estudio Ber.
Meanwhile, the drainage of net reserves remains at the center of attention, since the market sees that its dynamics are not sustainable. “Given the current situation, the possibility of measures after 14-N grows, as well as definitions of the slow rate of ‘crawling-peg’ in the official dollar,” added Ber.
In fact, this Wednesday the BCRA ended with net sales of approximately $ 85 million, thus accumulating a negative balance of about $ 150 million in the month (although still somewhat below what was sold in the first days of the previous month ).
With a smaller presence of exporters, foreseeable at this time of year, the BCRA has sold about US $ 150 million in the month. “The trend is expected to reverse in the second half of the month,” say sources close to the monetary authority. In October, for the first time in the last decade, the BCRA ended up with a buyer balance of about US $ 200 million. In the accumulated of the year, purchases exceed US $ 6.2 billion
In the parallel market, for its part, the blue dollar reached a new historical nominal record, according to a survey by Ámbito en el Mercado Negro de Currencies. The parallel dollar increased by $ 1.50 to the unprecedented $ 199, so the gap with the wholesale exchange rate, which is regulated by the Central Bank, stood at 99.2%, a record since November 20, 2020.
“The scenario for investors is getting complicated in the face of the legislative elections. Nobody knows if after the elections things will improve or get worse, with the exchange rate in sight,” said Ariel Manito of Portfolio Personal Inversiones. “It is difficult to know what exchange rate is high or low in Argentina today,” he added.
“There is no certainty in anything. Nor is there a plan that indicates how to get out of the stocks and narrow the gap, nor is there a consensus among the coalitions. And it is precisely this lack of certainty that generates volatility in the market,” he explained .
Investors’ political doubts are accentuated amid high inflation, estimated at 50% by 2021, exchange controls, a growing fiscal deficit and slow negotiations with the IMF for a debt of about 45,000 million dollars.
In the global context, the announcement by the US Federal Reserve that it will begin to cut its monthly bond purchases in November with plans to finish them in 2022 also kept the attention of market agents.
Official dollar
The dollar today advances eight cents this Thursday to $ 105.46 -without taxes-, according to the average of the main banks in the financial system, in a context of marked upward pressure for the “unregulated” versions of the currency. In turn, the retail value of the US dollar it remains at $ 105 in Banco Nación.
The wholesale exchange rate, regulated by the Central Bank, advances three cents to $ 99.94.
Source From: Ambito
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