He Official dollar fell for the second consecutive day this Tuesday, May 13 and approaches $ 1,100. Meanwhile, financial operate with disparity.
In the segment wholesalerthe dollar retreated $ 6.50 (-0.6%) at $ 1,125.50after falling $ 4 on Monday. For its part, the Retail dollar closed to $ 1,151.63 for sale and in him National Bank The ticket quoted $ 1,150.
He Blue dollarfor his part, he gave in $ 1,160according to a survey of Scope in the City caves. He MEP descended 28 cents to $ 1,140.92, But the CCL increase $ 2.30 (+0.2%) a $ 1,158.28. The gap with the “counted with Liqui” was located in the 2.9%.
“In the short term, It will follow closely if the official dollar effectively goes to the band so that the Central Bank (BCRA) begins to accumulate genuine reservesin a month when the seasonality of the thick harvest plays in favor. June’s goal with the International Monetary Fund (IMF) is highly challengingbut it could be covered with debt or resting of the BCRA, although for now there are no official ads about such operations, ”said Juan Manuel Franco, Chief Economist SBS SBS
Market focus: inflation, elections and tender
The CABA inflation in April slowed 2.3%although the nucleus went up to 3%, The Statistics Institute of the City of Buenos Aires. Despite this, a rise of 11.1% accumulates in the first four months of the year and in the year -on -year variation reached 52.4%.
Another factors that influence investor expectations are provincial legislative elections. On Sunday there was a Provincial triumph of the national ruling in Chacoafter allying with the governor Leandro Zdero. In Jujuy and Salta They were second, while in San Luis They did not present a list.
This Sunday will be the CABA legislative electionswhere Manuel Adornipresidential spokesman, is emerging to achieve a second place.
He Ministry of Economy headed by Luis Caputo a Capitalizable letters (LECAP) who has in his possession the Central Bank (BCRA). The operation It will be for about $ 4 billionalthough it was estimated that for the next called the Nation’s Treasury had to address commitments for about $ 8 billion.
The letters that will deliver the BCRA are the S16Y5 LECAP (according to its technical market name), which expires on May 16, and the S30y5 that closes the 30th of this month. The Treasury, in return, will give you another Lecap that will overcome on September 16.
The need to buy reservations pressing
The government must face a challenge not less: comply with the accumulation goal of reserves agreed with the IMF. According to this, for June some must be accumulated U $ S5,000 millions. While the BCRA can intervene within the band of $ 1,000 to $ 1,400, From the Government they affirmed that they will only do so in case the band’s floor reaches.
“With the flexible change, the accumulation of reserves sucks methat was designed because we did not know if we were going to get the money to open (the stocks). We got the money and open, “said the president Javier Mileiwho added that he will pay the debt to the IMF with “Fiscal Balance”.
On the lack of intervention in the market, Ignacio MoralesChief Investments officer, from Wise Capitalexplained: “From the BCRA They affirmed that income from dollars will arrive on the capital account. One of the bets is the entry of currencies from the liquidation of the field. In this context, from the Government they claim that they already have the dollars to face in July external debt maturities with bonds by U $ 4,200 million“
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
