The CCL dollar lost $7.16 (-0.8%) to $934.93. For its part, the MEP remains almost stable at $947.08.
The CCL dollar deepens its decline this Thursday, December 21, while the MEP It operates almost stable and the gaps reach a minimum in 4 years, since the government of Mauricio Macri. This happens after the first debt tender in pesos promoted by the portfolio led by the Minister of Economy, Luis Caputo and knowing the fine print of the decree of necessity and urgency through which the government deregulated the economy.
In that framework, the MEP dollar operates stable in $947.08. In this way, this type of change marks a gap of the 17.8% with the officer.
For his part, the CCL dollar gives up $7.16 (-0.8%) to $934.93and operates below the importing exchange rate (wholesale dollar, plus 17.5%, or $944.99). Thus, the spread with the official exchange rate is located in the 16.3%.
In turn, the blue dollar gives up $10 and operates $935 for the buys already $985 for the sale, according to a survey of Ambit in the caves of the City.
Why are financial dollars falling?
In dialogue with Ambitthe Economist Joel Lupieri said: “These days The investor spirit understands that the measures taken by the government have been pragmatic. The reduction of the gap, discreetly made by the official, has made it possible to appease part of the expectations of devaluation. However, this helps the perception that the American currency is expensive increases. “In the same way, the progressive elimination of other distortions, such as Leliqs and reductions in subsidies, allows us to think about a more sustainable growth path.”
In turn, the economist Gustavo Ber also highlighted that BCRA purchases are about US$200 million per day, a situation that allows reserves to be recovered. “Operators remain attentive to the evolution of the 2% monthly crawling-peg strategy since they anticipate that they could be modified soon in order to avoid incubating exchange rate delays in the current inflationary context,” he said.
“From the hand of himWith positive expectations aroused by the first Treasury tender, and a growing tactical appetite for carry-trade, calm spreads in financial dollars – already below $1,000 – by anticipating that in the short term they could lose ground to placements in pesos running at rates of the order of 10% monthly,” Ber added.
Gap at 4-year lows
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In September 2019, the then president Mauricio Macri he goes back on his decision and through the DNU 609 imposes new restrictions to prevent currency flight and try to prevent the loss of Central Bank reserves.
Macri sets the limit to acquire dollars at US$10,000 per month and at that moment he began a gap with the wholesaler. The complementary measures included the obligation for large companies to liquidate dollars from exports, the request for prior authorization for the transfer of profits and to buy dollars for travel.
Source: Ambito
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