Financial dollars fall sharply due to adjustments in expectations, after the victory of libertarian Javier Milei in the presidential elections.
The MEP dollar collapses almost $110 or more than 11% this Monday, November 27 and drill long the $900in the face of rearrangements of expectations, after the triumph of the libertarian Javier Milei in the presidential elections.
In the stock market, the MEP dollar comes down $109.54 (-11.3%), up to $863.21 and returns to pre-runoff values. Thus, the gap with the official figure is 140.4%.
For his part, the dollar CCL give up $32.38 (-3.5%), and quotes $892.80. In fact, the spread with the officer he positions himself in the 148.6%. Last week, the exchange rate used by companies had accumulated a rise of $48.22 (+5.5%).
For the economist Gustavo Ber, financial dollars “They are accompanying the positive expectation that financial assets reflect, and thus they are deflating, beyond recognizing that the real exchange rate should continue to be high, given the possible new economic plan.”
This Monday, the president-elect is in the United States with a handful of people, including Santiago Caputo, favorite to be the new Minister of Economy.
“The possible appointment of ‘Toto’ Caputo reaffirms that it is not going to be dollarized (at least in this term) and that there is no possibility of lifting the stocks immediately,” estimated the consulting firm EcoGo. He added that “it shows a limited devaluation (…), with an increase in the country tax and a “financial solution to the Leliqs” that appears to have been the “hook” with which the program was sold to a Milei obsessed with the problem”.
Given these movements of the future president, the Government’s decision to extend the validity of the exporting dollar (now 50% must be settled through the official dollar, and the other 50% through the CCL dollar) until the December 10in order to accumulate reserves, which adds supply for the CCL dollar.
Last Thursday, in addition, the national government increased taxes that apply to purchases in foreign currency with Credit and debit cards and, consequently, the value of the dollar in these cases rose.
Source: Ambito
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