The official dollar rose 5% and exceeded the yield in pesos. The MEP and the CCL also advanced, although the Central Bank still does not intervene in the market
The second week without exchange rate He closed with a positive balance for the dollar. He official exchange rate wholesaler advanced a 5% Regarding Monday and prevailed to the performance of rates in pesos, consolidating itself as a more attractive option for savers and investors.
This Friday, the Wholesale dollar remained stable in $ 1,169 per unit. However, regarding Monday’s opening in $ 1,110accumulated an important appreciation. In addition, he left behind the $ 1,069 registered at the beginning of the week, a value that had been held by the Minister of Economy, Luis Caputo.
The MEP dollar went down the day but went up in the week
In parallel, the MEP dollar He retreated a 0.2% This Friday and closed in $ 1,184although at the weekly level it rose 1.5% in the face of Monday’s opening and a 8.7% above the weekly minimum.
He CCL dollar It also showed firmness, ending the wheel in values higher than $ 1,200while the Blue closed in $ 1,210. In both cases, the weekly increase exceeded the 5%.
A striking fact is that, after the advance of the official dollar to the $ 1,190the gap With the MEP it became negative: today it is cheaper to dollarize via stock market than through the official bank market.
The BCRA still does not intervene
Despite the movements in the different exchange rates, the Central Bank of the Argentine Republic (BCRA) It continues without intervening in the market. The monetary authority is allowed to act when the dollar touches the ends of the flotation band – with a flat in $ 1,000-, but as long as the values are maintained within the range, it lets the price be determined by supply and demand.
“We emphasize that the BCRA still does not intervene inside the band, despite being enabled. The economic team maintains the position of acting only in the limits,” they explained from Personal investments portfolio.
Reservations exceed US $ 39,000 million
As for International reservesthe BCRA reported a new advance: they exceed the U $ 39,000 million. This growth is partly explained by the arrival of disbursements of the International Monetary Fund (IMF) and other multilateral organisms. They also influenced the rise in the price of gold and the increase in private deposits in dollars.
From Wise Capital They commented that now the BCRA awaits a greater flow of liquidations from exporters and sales of Importers. If specified, you could press the exchange rate towards the floor of $ 1,000enabling an eventual official intervention to buy currencies at lower prices.
The evolution of the dollar in the coming weeks will be key to defining whether the market maintains its relative calm or if the volatility returns.
Source: Ambito
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