Dollar: After touching a record since it started floating, the wholesaler reversed and closed below $ 1,200

After touching a record since he began floating between bands about three weeks ago, the wholesale official dollar closed down and perforated the $ 1,200, A trend that did not replicate the retail exchange rate that, in Average, exceeded $ 1,220. This disparity was the product that the turning in the wholesaler’s price occurred in the wheel epilogue and the retail ticket did not adjust that variation. It happened in a day, in which “technical inconveniences” were experienced again with the siopelthey reported from A3 markets.

Indeed, the Wholesale dollar He yielded $ 6 a $ 1,194 After reaching a peak of $ 1,208while the official exchange rate – average of the Central Bank – advanced $ 3.98 (+0.3%) a $ 1,220.45 (in Banco Nación increased to $ 1,215).

In the financial market, meanwhile, he CCL dollar gave 31 cents to $ 1,211.31so the gap It was located in 1.5%while the MEP gave up $ 3.31 (-0.3%) a $ 1,199.61.

He official exchange rate The day started with a moderate rise after the strong pressure on Monday after the long weekend, especially on the end of the day. In addition, in A3 markets They monitor a fault in the communications systemthat on the previous day it spread for an hour.

“Decouple in the movement of Retail dollar and wholesaler It would be transitory, since the latter is that it finally guides the evolution of the first. They are sudden and light movements, on the closure these quotes could be misalized, possibly expanding Spreads in the retailer, although it would be ephemeral since they will move again together quickly, “said the economist Gustavo Ber.

This Tuesday, there was a low volume of operations with some U $ S490,761 million In the cash segment and some U $ S729 million, As he said Gustavo Quintana of PR CHANGE OPERATORSthat’s why the American currency exhibited less volatile behavior and with variations below Monday.

“Technical problems interrupted operations during part of the market schedule, conspiring against the business volume, today notably lower than the previous days,”the specialist pointed out. In that line, from ABC Changing Market They specified that the operated volume fell 20% This Tuesday.

The BCRA paid an expiration to the IMF and the treasure canceled intrasferible letters

He Central Bankon the other hand, Continue without intervention because the official exchange rate did not reach the lower end of the band ($ 1,000). However, the gross reserves They fell U $ S427 millions -Mayor goes down from March 31- to the U $ 38,552 million behind him Payment of an expiration of US $ 600 million to the International Monetary Fund (IMF). The payment to the IMF was barely partially compensated for a rise of contributions in gold and other currenciesaccording to official sources in the field.

In addition, the Treasury canceled This Tuesday to BCRA three non -transferable letters with expiration dates 06/01/2025 (total cancellation), 04/29/2026 (total cancellation), and 04/03/2029 (partial cancellation) by US $ 12,000 million. With this decision, the administration of Milei seeks to “sanitize” the balance of the monetary authority, according to the agency conducted by Santiago Bausili.

The market look

Investors are attentive to the electoral results with focus especially in the level of support for the government, in a climate of nationalization of campaigns in districts such as CABA and province of Buenos Aires; and the legislative configurations to evaluate the “political muscle” that the libertarian administration will have to continue advancing with its reform agenda. “The strategy of remumding with dollars the economy also awakens expectation, through private savings, being able to generate positive effects on economic activity and the disinflation process,” Ber added.

For its part, Ian Colombofinancial advisor of Gold Coconuts He analyzed that the dollar could reach a balance zone around $ 1,200 with a diversion of $ 10 to $ 20. “It seems to us that it can be stable in this area, since there would be no incentives for it to rise,” he added.

In another order, The Agriculture and Livestock Commission of Deputies prepares to send a first political signal to the government on Wednesday: will issue an opinion that, in principle, would seek Block any attempt to increase withholdings to the agricultural sector. To prosper in Congress, the initiative could intensify the pressure on the ruling party, especially considering that both President Javier Milei and the Minister of Economy, Luis Caputo, already anticipated that On June 30, the transient reduction of export rights (DEX) applied to the main crops expires.