He dollar at the end of the month gives up 45 cents to $359.95while at the end of May it registered the largest drop of all terms: it sank more by $100 to $1,240.
The future dollar registers widespread losses this Friday, November 24 in the Matba-Rofex, given the market’s expectation that, at least in the short term, the president-elect Javier Milei will not promote dollarization in the Argentine economy.
After showing strong increases at the beginning of the week, known for the victory of the leader of La Libertad Avanza (LLA) in last Sunday’s runoff, The expectation of a strong and abrupt devaluation managed to moderate in part this Friday, in view of the assembly of the economic team that will accompany the Milei.
The unofficial rumors that circulated in the last few hours suggest that Luis “Toto” Caputo will be the next Minister of Finance, and Demian Reidel, the future president of the Central Bank. The market believes that, with these appointments, the idea of dollarization loses strength, which impacts devaluation expectations.
Under this scenario, the dollar at the end of November drops 45 cents to $359.95which shows that the market does not foresee a devaluation of the exchange rate during the current administration.
By the end of December, The currency lost $13.90 (-1.7%) to $785.10. While for January 2024the exchange rate drops $38 (-4.1%) until the $900.
For February, the dollar loses $69.90 (-6.6%) to $990, Meanwhile he March contract drops $65.30 (-5.8%) to $1,065.
For April, the official exchange rate falls $52.10 (-4.2%) to $1,178, and by the end of May it registers the largest drop of all terms: it sinks more $108 (-8%) to $1,240.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
