In another day marked by new operations in the City, the informal dollar climbed $50 until the $780 for sale, according to an Ámbito survey in the caves of the City of Buenos Aires, after touching the unpublished $795 in the first part of the day, and yielding up to $765 averaging the day, volatility that some in the market linked to rumors of all kinds (from a super stocks to the MEP with an AFIP quota, or the resignation of senior officials). .
The truth is that in just three days, after the STEP, the parallel dollar accumulated a climb of $175 or 28.3%, from $605 last Friday, that is, it exceeds the jump of the wholesale dollar of 22%, validated this Monday by the Central Bank (BCRA).
In that framework, the gap with the official exchange rate reached 122.9%, after marking a maximum of 127.1% in the day, the highest since the bullfight in July 2022 (139.3%), after the resignation of the then Minister of Economy, Martín Guzmán.
Uncertainty reigns in the alternative exchange market that still processes the election resultto which was added a devaluation of the peso of 17.9% on Monday, which led the official dollar up to $350 (BCRA set this parity until the general elections in October), and new restrictions imposed by the National Securities Commission (CNV) on the MEP dollar, along with repeated operations in the city of Buenos Aires.
For other sources in the market, in addition, behind this new escalation of the blue “There is an operetta to stop the closure of exchange agencies“, which the BCRA has been carrying out and which affected the main wholesalers, with ramifications that are still being investigated. As he learned Ambit, before measures of control of illegal operations in the foreign currency marketing, of the 214 exchange agencies that existed at the beginning of this administration, 120 were closed due to various irregularities and only 94 remain in operation. Also after inspections more than half of the exchange houses were disabled and of the 27 existing ones they were reduced to 12 at present.
But the truth is that both the electoral result on Sunday and the left the libertarian Milei well positioned (he proposes a dollarization of the economy), like the surprise devaluation of Mondayand its inflationary consequences, are the main causes of the jump in parallel.
“What I am seeing is a run that originated with a disorderly devaluation, without any economic program that contains its negative effects. It was a devaluation with an increase in rates and nothing more”commented to Ambit analyst Christian Buteler.
“The market does not seem to believe that they will be able to maintain the (fixed) exchange rate until October,” said analyst Salvador Vitelli.
in the day, the dollar “counted with liquid” exceeded $720 for the first time, while the MEP fell for the first time in 13 days (to less than $660), due to the intervention of official organizations, they said in the market. Let’s remember that the CNV this week reduced the quota for individual trading of up to 40,000 dollars a week to limit operations in the so-called “MEP”, where dollars are accessed through the purchase and sale of pesified assets.
“Financial and free (“blue”) dollars continue to be supported by continued demand that seeks coverage and shows growing concerns about the expectation of an acceleration in inflation after the devaluation”, argued the economist Gustavo Ber. “A climate of political and economic uncertainty continues to trigger a constant search for coverage by investors,” he reinforced.
“Regardless of the electoral interpretation, the closer a dollarization of the economy is perceived, the more financial dollars rise today (Wednesday)”, indicated the economist Roberto Geretto. “This is because the exchange rate to dollarize is substantially higher than the current one, so the market anticipates and goes up,” he added.
The libertarian Milei, who proposes to dollarize the economy and eliminate the BCRA, achieved 30% of the votes, followed by the opposition coalition headed by Patricia Bullrich and then by the ruling party, whose candidate is Economy Minister Sergio Massa.
Blue dollar, around $800: expensive or not so much anymore?
Now, at current levels, is the blue dollar expensive or not so expensive? “It’s expensive, but it can also be much more expensive. The $190 from the overshoot of October 2020 means today $950. So, see if you still have or don’t have room to keep running. The truth is, the context is very difficult.”Butler added.
For the financial analyst Salvador Di Stefano, “if the official dollar is going to be frozen for 90 days at $350, with an interest rate that is almost 10% per month, my feeling is that this rise in the parallel dollar should be slowing down or reversing.”
“If we do the exercise of selling the dollars today and placing for three months at 10% monthly, we would be above $1,000 for the blue before December 31, with which this value of the blue seems exaggerated to say the least, at least from my point of view”, remarked in dialogue with Ambit.
Price of the dollar today, Wednesday August 16
He qatar dollar -which includes 30% of the tax COUNTRY45% deductible from Income Tax and Personal Assets, and a new perception of 5% on account of Personal Assets- was located in the $660.40. In this way, the currency ended about $120 below the blue given the high exchange rate volatility.
Monday the Federal Administration of Public Revenues (AFIP) arranged a 25% reduction to 5% in the Perception of Personal Property that is applied for consumption abroad with debit and credit cards higher than the $300 monthly per person. So the call qatar dollar It stopped being the most expensive exchange rate, the place it had occupied this Monday when it reached $732.
Meanwhile, the dollar wholesaler trades in $350 per unit.
How much did the savings dollar and the card dollar close at today, Wednesday, August 16
He dollar savings (or jointly) and the dollar card -which includes 30% of the COUNTRY tax + 45% of the Earnings Perception– operated in $642.06.
How much does the crypto dollar today, wednesday august 16
The crypto dollar or bitcoin dollar operates in the $740.12 after climbing 5.6% in the last 24 hoursbased on the average among local exchanges reported by Coin monitor.
How much does the MEP dollar today, wednesday august 16
He MEP dollar give in until $658.74. In that way, the gap with the officer reaches the 88.2%.
Price of the CCL dollar today, Wednesday August 16
He dollar “Cash with Settlement” (CCL) trades at $718.06. Indeed, the spread with the official it stands at 105.2%.
Source: Ambito
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