Despite the agreement with the IMF, the Central Bank (BCRA) sold reserves again in the last round, with which the negative balance for January widened to US$130 million.
“BCRA sales are related to the month-end closing, at which time the monetary authority must attend to the demand that needs to cover positions and close positions that expire on January 31,” analyst Gustavo Quintana told Ámbito. “The impact of the agreement with the IMF will have to be analyzed in the coming days after the sector finishes analyzing the news,” he added.
The issue to highlight was the sharp drop in the implicit rate of almost four percentage points in future dollar contracts. “The announcement of the agreement could have generated a change of expectation in relation to a lower level of devaluation and that forced the operators to rearrange positions,” Quintana explained about the drop registered in this round.
Savings or solidarity dollar
The savings dollar or solidarity dollar -retail plus tax- climbs five cents to $182.67. In this first month of the year, the price registered an advance of 2.2%, the highest since March 2021.
wholesale dollar
Meanwhile, the wholesale dollar, which regulates the Central Bank (BCRA), opened this Monday at $105.02, 18 cents higher than last week’s close. In this segment, the currency also posted its biggest monthly rise in 10 months in January.
Economist Gustavo Ber stated that “based on the understanding with the IMF, operators will continue to be attentive to possible adjustments in the ‘crawling-peg’ strategies and to the balances of the interventions in the reserves, in search of stopping the drainage of recent times “.
CCL dollar
The CCL dollar arbitrated by G30 falls again to $224.74 (-0.6% or -$1.37), after sinking 3% ($7.06) on Friday on the news of the IMF deal. The gap with the official exchange rate drops to 114%.
MEP dollar
In the case of the MEP dollar operated via AL30, the price falls 0.3% (-64 cents) to settle at $216.02. On Friday it had plummeted 3.2% (-$7.09).
The blue dollar falls 50 cents this Monday, January 31, 2022, after collapsing $10 in reaction to the announcement of the country’s agreement with the International Monetary Fund (IMF), according to a survey of Ámbito in the Black Market of Currencies.
The informal dollar drops to $212, its lowest value since January 18.In this way, the gap with the wholesale exchange rate, which regulates the Central Bank, se reduce al 101,9%.
The recent uncertainty about the agreement had caused the dollar to shoot up in the alternative markets (blue hit $223.50 on Thursday), and had hit Argentina’s sovereign bonds-
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Source: Ambito
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