The Ministry of Economy continues with its strategy to strengthen reserves before general elections of October 22through the regulation of one dollar highest intended for hydrocarbon exporterswhich came into effect this Tuesday, October 3.
Likewise, it was confirmed that the exchange rate Favorable for soybean exports will remain during this month. These approaches seek to stabilize financial dollars and avoid abrupt fluctuationslike those observed in the final stretch of September.
In a recent publication in the Official bulletinwas extended for another month on “soybean dollar 4“, which had started on September 5 and originally expired at the end of that month, now valid until October 25. This same scheme will be extended to the hydrocarbon sector starting today. The particularity lies in which 25% of export settlements may be carried out at a CCL exchange rate, while the remaining 75% will continue to enter the Single Free Exchange Market (MULC) at the official price.
These measures are part of the strategy Sergio Massapresidential candidate and Minister of Economy, to reduce volatility in financial dollars in the weeks prior to the October general elections. It is estimated that the dollar for hydrocarbons could generate an additional offer of approximately US$300 million in this market. At this time, the CCL presents an increase that exceeds $830.
Vaca Muerta Dollar: the pros and cons of the measure
The possible consequences of the Government’s decision to extend the soybean dollar 4 and to move forward with the regulation of the highest dollar for hydrocarbon exporters are the following:
- Reinforcement of reserves: The measures could help strengthen the reserves of the Central bank, which are at historically low levels.
- Volatility of financial dollars: The measures could reduce the volatility of financial dollarsby increasing the supply of currency in the market.
- Increase in exports: The measures could generate incentives for exporting companies to increase their sales abroad.
- Investments: The measures could attract foreign investmentsby improving the country’s risk perception.
However, there are also some risks associated with these measures, such as the following:
- Inflationary effects: The measures could generate inflationary effectsby increasing liquidity in the economy.
- Worsening of the exchange gap: The measures could aggravater the exchange gap, by encouraging the demand for dollars for the purchase of imported goods and services.
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