For 2013, which were Legislative Elections, the dollar was trading in the pre-STEP at $ 5.55 and only one cent more on the following Monday. In October the variation was similar: it went from $ 5.89 to $ 5.90.
In 2015 the devaluation had already accelerated with some abrupt jumps. It was thus that in the elections in which Mauricio Macri reached the presidency, the dollar was trading at $ 9.54 on Monday, October 26.
Macri reached his first election as president in 2017 in a complicated economic and financial context. His government had already had failures to control inflation, which he said in the campaign was not going to be “a problem” during his tenure.
By then the dollar was trading at $ 18.01 and, contrary to what usually happens, it dropped a few cents to $ 17.49. The day after the general elections that October it closed at $ 17.68; also with a slight decline compared to the previous day.
But then there was an event that would mark the rest of the economic management of macrismo. Just hours after Congress approved the Budget for the following year, December 28 arrived, the day that Marcos Peña, Luis Caputo, Nicolás Dujovne, and Federico Sturzenegger, they changed the inflation targets and increased mistrust in the Macri government.
Thus came the 2019 elections in which Macri played and lost reelection. The real shock occurred in the PASO when the dollar jumped from $ 46.55 to $ 57.30 after the victory of Alberto Fernández. It is not less than the devaluation had already been about $ 40 in two years, at a much higher rate than it was seen until 2017.
Macri’s management reached the 2019 general elections with a dollar at $ 65. The market had already spoken the day after STEP, so even after the election that confirmed the end of the Juntos por el Cambio government, the currency dropped to $ 63.
Following recent history, beyond the exchange rate pressure of recent days, especially in the Black Market of Foreign Currency, we should not expect a sudden movement in the dollar. In any case, the market is attentive to the possibility of more measures and even the possibility of an exchange rate split.
Source From: Ambito
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