What were the causes of the strong rise in the blue dollar

What were the causes of the strong rise in the blue dollar

“The last closing of the Central Bank’s balance sheet gives an equilibrium dollar of $ 220. In that sense, a blue below that figure is given away,” market analyst Salvador Di Stéfano told this media, who emphasized the high weight of the monetary issue in financing the fiscal deficit.

For his part, the economist Gustavo Ber said that investors “continue to be inclined towards hedging in a climate of internal as well as external uncertainty, where the rate hike in the US becomes a serious challenge for emerging markets.”

“The lack of definitions on the agreement with the IMF raises doubts and makes people cover themselves in greenback,” another market source told Ámbito.

With the rise of this wheel, the blue dollar closed its spread with the CCL, which this Tuesday fell and culminated at $ 211.53 and remained the most expensive in the market. All this occurs at the same time that the Central Bank slightly accelerates the rhythm of daily adjustment of the official dollar, to place the devaluation rate at levels close to those of inflation.

“In the background, there is still the expectation for an agreement with the IMF in a climate where uncertainty still prevails, which is even accentuated after the recent high monetary issue,” Ber said.

In December, blue rose 3.2% ($ 6.50) and official rose just 1.8%, against an estimated inflation of 3.4% according to the consulting firms and financial entities that participated in the last Market Expectations Survey ( REM).

So far in January, the wholesaler has accumulated a rise of 0.8%, which if repeated from now to the end of the month would result in a monthly advance of more than 2%. Meanwhile, blue, with more fluctuations, exhibited an increase of 0.5% in the month, although from a much higher price.

Specialists warn that the performance of the parallel in 2022 will depend on several factors, including negotiations with the IMF and the strategy regarding the management of the official exchange rate.

Source From: Ambito

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