Last Friday, the price of the informal dollar experienced a new rise this Friday. What about the official and financial exchange rates
By Philip Mark
09/19/2022 – 10:18 a.m.
Last week the exchange market underwent changes that boosted the prices of financial dollars. The BCRA ruled yesterday that those who applied for and obtained subsidies on gas, electricity or water rates, will not be able, while they have the benefit “to access the foreign exchange market to make purchases of foreign currency by human persons for the formation of assets external residents”. Nor may they carry out operations with titles and other securities with settlement in foreign currency. In this context, the Dolar blue it trades at $277 in the caves of downtown Buenos Aires.
For its part, in the stock market, the dollar counted with liquidation (CCL) trades at $301.15, while the MEP (Electronic Payment Market) does so at $293.38.
In turn, the price of the official dollar starts the wheel at $150.17 on average. In the wholesale segment, the price of the US currency is trading at $141.38.
How much is the blue dollar trading today
The blue dollar is trading at $277 to sell and $273 to buy.
How financial dollars operate
In the stock market, the dollar counted with settlement (CCL) is offered at $301.15, while the MEP (Electronic Payment Market) does so at $293.38.
The blue dollar traded at $276 this Thursday.
What is the price of the official dollar
The price of official retail dollar quote $150.17 on average.
In the wholesale segment, the price of the US currency is trading at $141.38.
Thus, the dollar with the 30% surcharge -considered in the Country tax-, marks an average of $195.22 per unit; and with the advance payment on account of the Income Tax of 35% on the purchase of foreign currency, the average value was $247.78.
Meanwhile, the dollar allocated to tourism abroad -and which has an aliquot of 45%- stands at $262.80.
Reasons for the increase in financial dollars
So far this week, the financial dollars they mark rises of up to 20 pesos, with Thursday’s day being the largest amount. And this abrupt jump was responded to by the national government with greater exchange restrictions ordered by the BCRA.
In this context, the financial analyst, Christian Butlernoted that “it seems that It is difficult to understand that the gap is lowered with less stocks and less weights“.
The bad inflation data generates pressure on the dollar
“Not only can you not access the official dollar, but you cannot access the MEP either, so they force you to go to the blue. They themselves give the informal dollar an entity with this measure,” Buteler explained.
A renowned Head Portfolio Manager of a recognized ALyc of the city of Buenos Aires pointed out that the increase in the price of the CCL and the MEP It may be linked to the settlements made by agriculture through the soybean dollar.
“The government is issuing to shape the soybean dollar. And it is very likely that the pesos that the soybean complex makes will end up in financial dollars,” he explained.
In addition, he explained that the bad inflation data in Argentina could also have boosted the prices of free dollars.
“With the United States entering a recession, there is greater aversion to risk in the funds. This automatically becomes a problem for all emerging markets and, especially, for Argentina,” said the Head Portfolio Manager.
The exchange rate gap
Finally, the exchange gap between the average retail dollar published by the BCRA and the different exchange rates is as follows:
- Blue: 84%
- LCC: 101%
- MEP: 95%