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The blue dollar made its biggest daily jump since the beginning of the year and approached $1,200

The blue dollar made its biggest daily jump since the beginning of the year and approached $1,200

He blue dollar climbed $60 (+5.4%) this Monday, May 20, its largest daily increase in four and a half months. Thus consolidated as the most expensive among the parallels and approached $1,200.

In this way, the informal dollar hill to $1,150 for purchase and $1,180 for sale, maximum in three and a half monthsaccording to a survey of Ambit in the caves of the City. In this way, the gap with the official increased to 32.7%.

The sharp jump in the exchange rate in recent days, according to the different analysts consulted by Ambitis due to the sharp drop in rates of the Central Bank (BCRA). The monetary authority, in charge of Santiago Bausiliresolved last Tuesday reduced the monetary policy rate by 10 percentage points and placed it at 40%.

“This uncertainty tells us that by June we could see an increase but also relative stability,” the economist assured this medium Federico Glusteinand predicted that for the next few days “a slightly bullish position”, “but not a jump since the difference with the MEP is almost 10% and with the CCL 7%. Could do carry trade a few days and then go down, waiting for the next Treasury tender and placing in an instrument with a higher rate such as Lecap”.

Meanwhile, the financial analyst, Christian Butlerpointed out that May could be the first month of the management of Javier Milei in which the dollar beats inflation and the rate. Although, he classified it as a “partial recovery”since in the previous months it lost heavily against the CPI and the rates.

In the political context, also affects the blue dollar the possibility that the Law Bases don’t go out for the much anticipated May Pact and that it be postponed to June or July, which generated “some kind of fear in the market”.

“The May Pact had to do with a set of governance rules typical of a healthy economy that is doing well. It was proposed as a precondition that the Base Law be approved. Now, If the Base Law is not approved then you have a problem there. What Pact are we going to go to if we have not yet approved the Base Law? The Law will come out sooner or later; The 3,000 structural reforms that we still have in the pipeline are also going to come out. Nothing is going to stop us from making structural reforms,” Milei said in an interview with Spanish media.

How much did the official dollar close at today, Monday, May 20

In the official exchange market, the wholesale dollar rose $2.50 to $889.

How much was the MEP dollar quoted for today, Monday, May 20

He MEP dollar advanced 3.3% to $1,106.22 and the spread with the official one was positioned at 24.4%.

Value of the CCL dollar today, Monday, May 20

He dollar Cash with Settlement (CCL) rose 3.5% to $1,142.54, so the gap with the official is located in 28.5%.

Price of the card dollar today, Monday, May 20

He dollar card or touristand the dollar savings (either solidary) quoted $1,452.

Quote of the crypto dollar today, Monday, May 20

He crypto dollar or Bitcoin dollar operates at $1,134.24, according to Bitso.

Source: Ambito

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