In principle, this Wednesday it is expected that the wholesale exchange rate rises 3 pesosthat is, a figure close to 0.8%, and the intention is that the accumulated increases over a month they are 3 to 5%.
He official dollar It has remained fixed since August 14. But as of this Wednesday, three months later, the Government decided to relieve some pressure on international reserves and unfreeze the exchange rate which remains at $350 to this day.
This action had a direct impact on inflation: it made the pass through at the end of August had its ceiling and prices rose at rates lower than single digits after the jump in August and September when increases were 12% monthly.
In the economic team they announced that This Wednesday the official dollar will begin to calibrate again with an exchange strategy that in the jargon is known as crawling peg. This is a return to gradual price adjustments, with the aim of avoiding losses in competitiveness.
Official dollar: how much will it rise this Wednesday
In principle, this Wednesday it is expected that the wholesale exchange rate rises 3 pesosthat is, a figure close to 0.8%, and the intention is that the accumulated increases over a month they are 3 to 5%. These gradual increases, unlike sudden jumps like the one in August, are a key measure to avoid accelerating inflation.
Central Bank BCRA_Petunchi
Ignacio Petunchi
Official dollar: what the exchange rate movement impacts
He official dollar It is the value of the quote in banks and exchange houses authorized to operate by the Central Bank. People buy and sell through banks or exchange agencies. This market is called retail. However, the wholesale segment is where it mostly affects the population. It is where they are made big operations , used by banks and companies. That is where the Central Bank intervenes to buy or sell.
Until now, the fact that the official dollar is still has allowed prices to be contained and therefore inflation, but it has a direct correlation which is the difficulty in accumulating reserves. This forced the Central Bank and the Ministry of Economy to unfold the exchange market to generate a more competitive dollar for key sectors such as agriculture, the automotive sector, mining, oil, among others.
Any rise in this exchange rate has multiple effects on the economy. It impacts inflation, the price of food (in case of pass through), fuel, tariffs, exports, imports, the public debt market, and investments.
Source: Ambito
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