“The Government has the full interest in closing an agreement as quickly as possible (…) It is necessary to obtain all the international consensus that is necessary to be able to have an agreement between both parties (Government-IMF),” the Minister of Economy recently affirmed , Martín Guzmán, in an interview with a Spanish newspaper.
The The market also expects signs of a delayed “multi-year” economic plan in the face of exchange rate pressures, lack of reserves in the central bank (BCRA), annualized inflation above 50% and a complex fiscal deficit, in the context of a growing third wave of the COVID-19 pandemic.
“Financial dollars and freer references continue to reflect investors’ caution, and hence beyond short-lived respite they continue to show firm behavior in the search for coverage”, highlighted the economist Gustavo Ber.
The year 2021 was crossed by the mid-term elections, which had the opposition as the winner in the main districts of the country but the ruling party improving considerably with respect to the result of the PASO.
Until the elections, the price of the stock dollar remained held back by the constant interventions of official organizations in the operation. Then, without state participation, there was an acceleration in the prices of the “free” parallel dollars.
As a result of this deregulation, the dollar “counted with liquid” traded with the AL30 bond (the most liquid) registered its highest monthly rise since April 2020 as a consequence of the decision of the Central Bank (BCRA) to stop intervening in the stock market after the legislative elections.
Central Bank and official dollar
The wholesale dollar, meanwhile, rose 28 cents to $ 103, under the constant regulation of the BCRA. “Today’s adjustment was higher than last Monday, a figure that may anticipate a higher weekly correction than in the immediately preceding period,” said analyst Gustavo Quintana.
The official activity alternated sales and purchases in the wholesale segment and was at the end with a net of purchases for US $ 5 million.
The monetary authority had culminated in 2021 with purchases for almost $ 5 billion. In December, it had a selling balance of US $ 460 million. In addition, at the closing of future operations, the BCRA obtained a profit of 11,000 million in December and 30,000 million accumulated in the year.
The first round of the week exhibited a meager volume of business and with the US currency operating from highest to lowest, hand in hand with an offer that became more intense in the last section of the day.
The maximums were recorded with the first agreed operation, at $ 103.06, thirty-four cents above the previous end. Prices operated very stabilized around $ 103.06 / 103.05 during much of the development of the date, in a scenario of official sales to meet the unsatisfied demand. In the last part of the session, income from abroad intensified in response to residual demand, giving rise to the appearance of the Central Bank in the sector where banks and companies operate with purchases that absorbed the available surplus and set the price floor when prices hit lows at $ 103.
For Quintana, “after the strong sales last Thursday made by the monetary authority, it was able to end the first day of operations in January with a favorable balance that, although small, was the result of another scenario in the wholesale segment.”
The dollars of the agro-export complex should increase as of January, which in the official view, will serve to reduce the tension in the market, with less loss of reserves in a somewhat complex first quarter.
In the official segment, the Today the dollar rose 19 cents this Monday, January 3, 2022, to $ 108.48 -without taxes-, according to the average in the main banks of the financial system. In turn, the retail value of the currency at Banco Nación it advanced 25 cents to $ 108.
The saving dollar or solidarity dollar -which includes 30% of the COUNTRY tax, and a 35% on account of the Income Tax- went up 31 cents to $ 178.99.
blue dollar
The dollar blue fell $ 2 this Monday, January 3, 2022 to $ 206, after hitting its new all-time nominal intraday high of $ 210 on Thursday, according to a survey of Scope in the Black Market of Currencies. In this way, the gap with the officer was exactly 100%.
In the accumulated of 2021, the parallel dollar had a rise of 25.3% ($ 42), almost half with respect to the inflation of the period.
After hitting a floor of $ 139 in April, the price of the blue began to show an upward trend, although with oscillations. The largest increases for the year were verified in July (+ $ 12.50 or 7.4%) and June (+ $ 11 or 7%). Likewise, the highest gap in 2021 with respect to the official one was noted on October 11, when it reached 106.1%.
Source From: Ambito
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