The city analyst who knows the most about the blue dollar anticipates that there are some risks of oversupply in the exchange market going forward due to the crisis and recommends what to do with the greenbacks.
The blue dollar is on a downward trend.
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The market expects that, if the Government obtains the dollars that were announced and the economy continues at the current pace, added to the dynamics of money laundering, The calm in the exchange market persists going forward and Salvador Di Stefano, the analyst nicknamed “blue guru”reaffirms this conviction in dialogue with Scopebut adds an extra element, a warning and recommendation for savers and investors.
“It is expected that the dollar will remain stable around $1,050 and $1,150 and maintain a distance of around 10% from the wholesaler. People will tend to sell more dollars than buy because Argentina today is not providing great profitability and companies have to resort to their savings, which are usually in dollars, to invest in process improvements and improve production costs. production”, describes Di Stefano in dialogue with Scope.
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The coming trend for the blue dollar
In short, he anticipates that “people are going to have to sell more dollars.” “Some are going to sell because they can’t make ends meet and others because they are going to need pesos to fuel the improvement of internal processes in companies.” He explains that this will make that market remains very offered going forward and, in this sense, indicates that the dollar may fall more than desired.
“Given that The process of supplying dollars in the market is going to be increasingly important, we could see a bigger drop than we imagined,” says Di Stefano. That would be a problem for many given that The dollar is the savings currency for autonomy for Argentines. That, on the one hand, but, on the other, That would cause the peso to appreciate too much, which would result in an increasingly less competitive exchange rate for Argentina.
The blue guru’s recommendation
Consequently, the blue guru points out that It is advisable that people do not exchange dollars, but rather circulate them forwards. “You have to circulate them to be able to put a floor on the price of parallel dollars,” warns Di Stefano.
Thus, his warning and recommendation regarding what is coming in the exchange rate dynamics in Argentina is that we must be careful with a too strong increase in the supply of foreign currency because that can greatly lower the price of the dollar. “It is not advisable to continue selling dollars because, in this way, we risk losing the blue floor“he points out.
Source: Ambito
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