He Dolar blue rose strongly this Tuesday, June 25 and reached a new nominal record, when quoting $1,335 for purchase and $1,365 for saleaccording to a survey of Ambit in the caves of the City. In this way, the gap exceeded 50%, a situation that put the market on alert. Demand for dollarization due to the bonus, real rates still negativean expectation of lower foreign currency purchases by the BCRA and the pace of liquidation put pressure on the exchange rate
Thus, the informal exchange rate advanced $35 on the day and thus maintained the trend of the previous day, when it jumped another $30. In this way, the gap with the official dollar it was located in 50.2%, maximums from last January 25 when he arrived at 51.3%. So far in June, the informal dollar has accumulated an increase of $140 or 11.4%. Let us remember that, in May, this exchange rate had already climbed $185 or 17.8%, after three months with slight oscillations.
Exchange pressures: why the blue dollar is rising
From Wise Capital They contributed that “although we are in a stage of the year in which the price of the North American currency tends to rise by the collection of the bonuscan also be mentioned other motives to understand the rise: one of them are Negative real rates on fixed terms (2.9% with inflation possibly above 5% in June).”
They also described that “the monthly devaluation is not yet equal to the level of inflation, making Argentina still expensive. The North American currency was adjusted monthly with devaluations of 2%, for the month of May these values were close to the measured inflation of 4.2%.”.
In turn, the economist Gustavo Ber explained: “In the midst of a slower pace – and greater irregularity – in BCRA purchases, Expectations grow due to the dynamics of reserves given the current lower accumulation of reserves and the prospects for the usual lower supply of foreign currency in the second half”.
In this context, he expanded, the financial and free dollars remain firm and consolidate at $1,300 “from a greater demand for dollarization” by economic agents, due to various factors: greater caution, the bonus/vacation and lower interest rateswith investors still watching political and economic events.
Lastly, for Juan Manuel FrancoChief Economist SBS Group: “One of the focuses in the short term is export settlement flows in a context in which they remain below April levelswhich it involves lower supply of dollars in a framework of lower nominal rates that reduce the attractiveness of the ‘carry trade'”.
For the expert, this issue is key because the Government needs “contain possible exchange rate pressures” given that an escalation in these could lead to “pressures on both prices and the exchange gap, “increasing expectations of devaluation despite the fact that the Government says it will maintain the ‘crawling peg’ of 2% monthly.”
How much is the official dollar trading at today, Tuesday, June 25
In the official exchange market, the wholesale dollar rose 50 cents to $910.
How much the future dollar is trading at today, Tuesday, June 25
In future dollar contracts, the price for the end of July rose 0.5% to $956. By the end of August it rose 1% to $1,005, towards September it rose 1.3% to $1,060, while For December it jumped 2.9% to $1,232.
In this way, the price for the end of the year accumulates an increase of almost $50 (more than 4%) in the last two weekswhich reflects a significant upward adjustment in devaluation expectations.
How much is the MEP dollar trading at today, Tuesday, June 25
He MEP dollar quotes at $1,293.42 so the gap with the official amounts to 42.2%.
Value of the CCL dollar today, Tuesday, June 25
He dollar Cash with Settlement (CCL) operates at $1,318.85 and the spread with the official it is at 44.93%.
Price of the card dollar today, Tuesday, June 25
He dollar card or touristand the dollar savings (either solidary) climbed to $1,484.00.
Quote of the crypto dollar today, Tuesday, June 25
He crypto dollar or Bitcoin dollar operates at $1,327.39 according to Bitso.
Source: Ambito
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