Financial dollars are once again trading unevenly and the gap remains between 36% and 37%. Export dynamics are influencing prices.
As in the previous day, the financial dollars operate disparately this Wednesday, August 21. The dynamics of exports are influencing prices and the market is closely monitoring the evolution of reserves, which is essential to support the Government’s exchange rate policy and debt and import payments.
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The dollar MEP rebounds upwards and rises $5.24 (+0.4%) to reach the $1,293.06. On the contrary, after rising on Tuesday, the CCL backs down $1.36 (-0.1%) to $1,288.64.


With these variations, the gap between the exchange rates on the stock exchange and the wholesale exchange rate, regulated by the Central Bank (BCRA), remains in the 36% area, specifically in the 36.7%.
Market sources noted that on Tuesday The good volume of exports was not verified on the official exchange market, which reduced supply in exchange rates, within the framework of the “blend” scheme, which leads exporters to liquidate 20% of their sales on the stock exchange.
The costs of economic policy
The CCL had accumulated three consecutive rounds of increases last week, due to the fact that Many investors began to close the carry trade. For September, Investing in the Stock Market warned of a possible greater sale of dollars due to it being a month of tax payments.
Martín Mazza, Director of MM Investments, told Ambito that the market is paying particular attention to the costs of the Government’s economic policy, which includes the appreciation of the official dollar as an inflationary anchor, and puts reserves at risk through intervention to reduce the gap.
Despite market confidence in the decline in inflation, as evidenced by the solidity of fixed rate Lecapsfor the Director of MM Investments “persist doubts regarding the stability of the dollar, since demand exceeds supply in the foreign exchange market.” In this sense, “The intervention of the BCRA in the market only manages to temporarily slow down the exchange rate, without addressing the underlying shortage of foreign currency. It would seem that attention is turning towards money laundering,” complete.
Source: Ambito

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