The price of the official dollar is regulated by the Central Bank (BCRA), which resumed the crawling peg two days before the runoff.
This Tuesday, on the first day of banking and financial activity after the runoff and within the framework of the presidential transition, the Central Bank (BCRA) maintains the policy of daily micro appreciations for the official dollar (crawling-peg), but marks a slight acceleration of this dynamic.
The monetary regulator ordered a rise in the dollar of $2.15 and it is trading $356.10equivalent to an increase of 0.6% this Tuesday. In this way, accumulate a monthly appreciation of 1.75% as of today since the crawling-peg was resumed on November 13.
The evolution of the dollar forward
This happened after three months had passed since the exchange rate adjustment of about 20% applied to the Argentine peso in the official market, a measure taken the day after the primary, open, simultaneous and mandatory (PASO) elections in August.
As told to Ambit he economist Pablo Ferrari“the movement of official exchange rate went through four stages this year: a gradual non-linear increase through crawling peg the August jump, the freeze for three months and now resumed the rhythm of small daily appreciations of the dollar with monthly limits”.
Added to this dynamic was the presidential transition processwhich adds an extra spice, given that the current and incoming economic teams must coordinate how the exchange rate policy will continue going forward.
The presidential transition: a key element
The transition for the new government has already begun and Javier Milei He began to outline what his management will be, with some definitions about his first moves in economic matters, with several names confirmed for his future cabinet.
The president-elect met with the Head of State Alberto Fernandez in the Quinta de Olivos this Tuesday. The meeting lasted two and a half hours, it took place within the framework of the beginning of the transition of government, which will culminate with the inauguration of the libertarian economist on December 10, when he takes charge of the sum of public power. The change in management thus opens a new scenario and the political map is reconfigured.
Likewise, in order to maintain the pace of reserve accumulation, the Government made official the extension of the export increase program until December 10 and set new conditions. As anticipated Ambitdecree 597/2023 increases to 50% the portion of currencies that can be settled in the Dollar segment Cashed with Settlement or “CCL”. It is estimated that the new exchange rate will be $640/650, which will depend on the variation in quotes.
Source: Ambito
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