Financial dollars operate unevenly This Wednesday, July 24, after the decision of the Central Bank (BCRA) of loosen the noose and remove restrictions on the purchase of foreign currency on the stock exchangeThe monetary authority continues to intervene lightly in the quotations.
On the one hand, the dollar MEP erases the fall of the previous day by rising $9.95 (0.8%) and standing at the $1,334.91Meanwhile he CCL falls 62 cents (-0.1%) to $1,336.54. In this way, the gap With the official exchange rate it is located at 43.9%.
The day before, the BCRA announced new measures related to access to the different exchange markets, among which the reduction in the terms for payment of imports and the Enabling the purchase of MEP and CCL dollars for those individuals who received aid state during the pandemic or receive subsidies on utility rates.
“With this measure, They will be enabled to subscribe to mortgage loans in pesos and access the MEP dollar to carry out their real estate operations “All those people who were included in that category,” the institution reported.
BCRA seeks to reduce demand for MEP and CCL dollars by removing obstacles to importers
On the other hand, the The Central Bank has reduced payment terms for imports of goods that are paid for after 30 days. The entity led by Santiago Bausili assured that this measure has a double positive effect: on the one hand it contributes to the reactivation of the economy because it allows companies that import to face less financial burden and, on the other, reduces the transfer to prices of the higher cost associated with the current schedule, which forced those companies that did not obtain commercial financing from their suppliers to pay them through the parallel exchange market.
For purchases of finished cars and luxury goods from abroad, the payment period will be reduced from 120 days to 90 days as of August 1. For the rest of the products, the payment period was reduced from the four installments in force until now to two installments as of next month; the first will be paid after 30 days and the second after 60 days.
It is worth remembering that today, energy-related goods are paid for in cash and that pharmaceutical products, other goods related to health care, fertilizers, phytosanitary products intended for local production, basic consumer basket products and imports made official by SMEs have access to the official exchange market 30 days after customs entry registration.
The Government launched a new stage of the economic plan
The Government recently announced the entry into the so-called second stage of the economic plan. While the Minister of Economy, Luis Caputo, is seeking to reduce the number of pesos in circulation and stabilize the gap to help lower inflation and strengthen the peso, the market is warning of a potential risk to reserves and the ability to pay the debt.
It should be noted that The new strategy includes the sale of dollars on the stock market by the BCRA, in order to reduce the price of financial exchange rates and absorb the equivalent of $2.4 billionwhich were the pesos that the monetary authority sold since April to buy foreign currency in the MLC.
“The limitations of the current monetary regime, supported by capital controls, are becoming apparent,” said a report by JP Morgan bank.
“The failure to accumulate reserves since June and a widening gap between parallel exchange rates and the official exchange rate highlight the need to overcome the key challenge still facing the administration around exiting capital controls,” he added.
For its part, the Puente stockbrokerage firm noted that this second part of the program “presents a new monetary policy framework based on fixing the amount of money in relation to the broad monetary base, with the goal of eliminating inflation.”
As part of the strategy, at the beginning of the week the Banks subscribed $10.85 billion in the inaugural round of Fiscal Liquidity Letters (Lefi) issued by the Argentine Treasury, replacing the nearly $14 billion in passive transfers that the BCRA granted to financial institutions. In parallel, the Treasury will seek to renew maturities for nearly $3.76 billion on Wednesday through the tendering of 11 different titles.
How much is the official dollar trading today, Wednesday, July 24?
In the official exchange market, the Wholesale dollar climbs $2 to $929 and up 1.64% until this Wednesday.
How much is the dollar futures trading today, Wednesday, July 24?
In it Matba Rofexthe future dollar falls in all the terms of the curve. At the end of July, it fell 0.1% to $935, while at the end of August it fell 0.2% to $969. Meanwhile, for September it fell 0.3% to $1,013 and for December it fell 0.4% and stands at $1,163.
How much is the blue dollar sold for today, Wednesday, July 24?
He Blue dollar operates at $1,445 for sale, According to a survey by Ambit in the caves of the City.
Dollar card price today, Wednesday, July 24
He dollar card or touristand the dollar savings (either solidary) is offered to $1,513.60.
Crypto dollar quote today, Wednesday, July 24
He crypto dollar or Bitcoin dollar quoted at $1,363.03according to Bitso.
Source: Ambito
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