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New dollar crisis: how to earn an extra 7% thanks to the widening gap

New dollar crisis: how to earn an extra 7% thanks to the widening gap
New dollar crisis: how to earn an extra 7% thanks to the widening gap

The rise in financial dollars and the widening of the exchange rate gap mean that savers can take advantage of “some moves” to get an “extra” from the purchase and sale operation. What is it about?

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In the last three months, the financial dollars ( MEP dollar) faced a 38% increase, which widened the gap against the wholesale dollar to 50%. But it’s not all bad news for consumers, as reduces the gap with the dollar card (the one used as credit in foreign currency), which in the first week of June remains the most expensive.

The resurgence of the card dollar

At the price of Retail dollar must be added to 30% of the PAIS Tax and another 30% on account of Income and Personal Property, thus arriving at the current price of $1,495. Meanwhile, the MEP, which is purchased through the Buenos Aires stock exchange, closed on Friday, July 5 at $1,394. With this in mind, the difference between the closing and opening prices of one and the other is 7%.

This is a real issue for Argentines who were planning to travel abroad or make purchases on international sites. During the “summer” of the exchange rate, the blue dollar was quiet, and it was better to use the card to make purchases and pay the balance with the banknotes from the mattress or the MEP.

The gap was 30% but now the paradigm is different. With the minimum difference of 7% and inflation slowing down (with a figure expected for June of around 5%, just as in May it was 5.2%), It is again a reasonable option to use the card and pay in pesos at the closing price.

Thanks to the fact that 30% of the surcharge on the dollar card will be recovered through the return of Profits, available from January of next year and with an inflationary expectation of 36 percent for the second half of the year.

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With a high gap, you can earn up to 7% extra in dollars

With a high gap, you can earn up to 7% extra in dollars

The new dollar card roll

The resurgence of the card dollar falls on Central Bank reserves. This happens because while the financial dollar It is negotiated between private individuals, the card involves the purchase of foreign currency from the Central Bank.

Thus, the increase in demand in this area would further complicate reservations, which already closed in June with a negative balance of 54 million dollars in the purchase/sale of currencies.

The economic team made it clear that, for seasonal reasons related to the liquidation of the harvest, reserves will fall by at least 3 billion dollars until September in response to market needs. “The tourist dollar was so high that no one was buying dollars to travel. With the increase in the gap and taking into account the perceptions, Today it is once again cheaper to buy tourist dollars than to pay with MEP dollars. “The tap is being turned on again,” said economist Miguel Kiguel, from the Econviews consultancy, during a radio interview.

“The recent rise in financial dollars improves the settlement value for exporters by increasing the value of the dollar blend. However, the recent increase in the gap has raised speculation about a possible devaluation of the official dollar, “delaying the entry of dollars,” said Joaquín Marque, director of UG Valores SA.

Source: Ambito

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