He dollar counted with settlement starts the week with a slight drop, like the MEP or stock market. Last Friday financial exchange rates They put a tourniquet to the collapse of the last few days The last friday.
In that framework, the MEP erases the initial increase of $3.02 or 0.28%, to stand at $1,070.83 and the gap at 27.99%. This occurs within the framework of the Government’s bid with the provinces for co-participation funds. In that context, the CCL dollar gives up $17.34 (+1.6%) until $1,095.18, and the spread It is positioned at 30.27%.
February of losses for financiers: in what context?
He Argentine financial market moved last week in the midst of a marked and recurring shortage of pesoswhich is promoted by the Government of Javier Milei through title tenders that point to press monetary contraction to attack the inflation.
On the eve, the central bank (BCRA) received offers for a nominal total of US$1,126 millionof which were awarded US$560 million in the Bopreal tender (bonus intended to settle debts with importers), while the Treasury announced for next Monday the tender for three bonds and a bill with maturities between 2024 and 2026.
“This sharp monetary contraction is complemented by a endogenous deposit growth by a interest rate who traveled well below inflation in December and Februaryresulting in a collapse of the ‘Private M3’ in today’s pesos of 29% since Milei’s assumption and 42.5% since the beginning of August, breaking the lows of 2003,” he said Personal Portfolio Investments.
Last Friday, the central bank managed to buy from the market US$118 millionwith what he accumulated in the week US$754 million to reinforce its Bookings international.
“Currently, the monetary policy rate It stands at 8.3% monthly, a number much lower than the inflationary level of close to 20% per month. This makes it difficult to find fixed income instruments that allow you to beat inflation, or at least in the short term,” he said. Delphos Investment.
In this context, the over-the-counter bonds local They advanced 1.2% on average, strongly recovering their parities given opportunity purchases in the face of favorable expectations about the future of the third largest economy in Latin America.
“We have seen a significant rise in sovereign bonds. The ‘AL30’ (bond) is worth $43.96, however, its internal rate of return is 32.6% annually. To have a respectable return, it would have to yield between 12% and 18% annually, in this way the country risk would collapse and Argentina would be on the verge of carrying out a ‘repo’ operation that would allow the entry of dollars via financing,” estimated the analyst Salvador Di Stefano.
He country risk fell 26 unitsto 1,686 basis pointslevels similar to those recorded in April 2022 and compared to historical highs close to 2,900 units recorded months before the ultraliberal Milei won the presidential elections last December.
Argentina will advance in a system of coin competition that includes the devalued local peso, he said Milei in a television interview, after a meeting with a high official of the International Monetary Fund (IMF).
The Argentine president received on Friday the top US diplomat, Antony Blinkenthe highest-ranking official to visit Buenos Aires since the libertarian leader assumed the presidency promising “shock therapy” to stabilize the country’s economy.
How much is the official dollar trading at today, Monday, February 26
In the official exchange market, the wholesale dollar reaches the $840.70 by increasing $1.80 compared to Friday’s close.
How much does the blue dollar trade at today, Monday, February 26
He Dolar blue is negotiated at $1,055 for the buys already $1,085 for the saleaccording to a survey of Ambit in the caves of the City.
Price of the dollar card today, Monday, February 26
He dollar card or touristand the dollar savings (either solidary) closed at $1,375.20.
Quote of the crypto dollar today, Monday, February 26
He crypto dollar or Bitcoin dollar operates at $1,061.23according to Bitso.
Source: Ambito
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