It is more than 300 measurements whose objective is to deregulate the economy, which includes elimination of price control laws and promotion of industrial activity.
In this framework, one of the keys to analyze the impact of what was announced is the blue dollar quote. This Thursday, the parallel exchange rate ended with a drop of $5 to $990. In this way, she represented her first loss in four days.
“The market seems to have welcomed the deregulation announcement with some approval and that is reflected in less tension in the markets, especially currency ones. “Prices are adjusting to a new reality, with more optimistic expectations,” Ámbito said. Gustavo Quintanafrom PR Change Operators.
On the other hand, since 54% devaluation on Wednesday, December 13, central bank could recompose Bookings (amounted to more than US$1.5 billion) from a largest agro currency settlementwhich also helped keep both the MEP dollar and the Cash with Settlement (CCL) calmgiven that it receives part of the supply (20%) from the official dollar market. That, in turn, helps maintain stability in the parallel market for the US currency..
Blue dollar: how did the Milei government’s first tender impact?
Another factor that could affect the value of the US currency is the liquidity of pesos in the market, behind the first tender of the Milei era, held on Wednesday. He Treasury Palace reported that in the debt tender received offers for $12.8 billion. But by making the fixed rate cut 8.66% monthlyfinally the Treasury placed only $2.9 billion.
In that sense, the economist Gustavo Ber indicated that “the financial and free dollars they calmly responded to the DNU and the Treasury tender before the positive expectations that arouse among investors“, he claimed.
Demand for pesos: why it increases and what impact it can generate
On the other hand, December usually has a seasonal rise in demand for pesos which, in this particular case, adds to the high level of inflation. This situation may be another of the factors that helps reduce pressure on the exchange market.
“The needs to meet expenseswith increase in prices they can also induce to sell savings and that moderates the movement of prices“, he estimated Quintana.
Source: Ambito
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