In the midst of a strong climate of nervousness marked by political uncertainty and with the news that the president confirmed that he will not seek a second term, he Dolar blue Listed this Friday with an increase of seven pesos to $439 in the caves of downtown Buenos Aires, thus scoring a new all-time high. Meanwhile, financial dollars operate with an upward trend and set new records, despite state intervention to prevent their triggering.
Market sources pointed to iProfessional whatThe decision to drop the candidacy of the president will have “little impact on the foreign exchange market,” since the dollarization of portfolios responds “not only to political questions, but also to economic ones.”
In the stock market, the dollar counted with liquidation (CCL) is traded to $442,06Meanwhile he MEP is offered in $430,00.
In the foreign exchange market, the retail dollar sold to $225.21 average, with a rise of 17 cents compared to yesterday. In it wholesale marketthe US currency is being offered at an average of $218.50, up 51 cents from the previous close.
The blue dollar reached an intraday record of $440
Is the rate hike enough to contain the dollar?
From Portfolio Personal Inversiones (PPI) they pointed out that, beyond the fact that inflation has an inexorable upward trend, the Central Bank was expected to react with a rate shock (with an eye on the overheating of financial dollars), seeking to mitigate the risk of spiralization. However, they pointed out that the BCRA “distanced itself from the strong rate hike applied by the Treasury in the tender and left little to no satisfaction.
“Given this abrupt correction of the exchange rate gap, the $300 “soybean” dollar has lost its unattractiveness and raises questions about the continuity and effectiveness of the program. The effective price paid in the local market barely improved 4.8% measured in MEP dollars (compared to an original 42% increase in the differential exchange rate), discouraging producers from selling,” they expressed in PPI.
In his turn, Rodolfo Leonel Fermani, portfolio manager of Adcap Asset Management, assured that after the inflation data of 7.7% per month in March, the Central Bank once again ordered a symbolic increase in the Leliqs rate and pointed out that “the measure will not have a strong impact on price controls, but is more aimed at reducing exchange rate pressure. We also stress that the rate increase also occurs within the framework of complying with the agreement with the IMF and thus approaching more neutral real rates.”
Along the same lines, from Grupo SBS they explained that they interpret that the BCRA rate hike was more associated with exchange rate volatility experienced in the last few wheels than an attempt to contain the rate of price growth.
How much is the blue dollar trading today?
The blue dollar is located in $439 for sale now $435 for purchase.
How financial dollars operate
In the stock market, the dollar counted with liquidation (CCL) is traded to $442,06Meanwhile he MEP is offered in $430,00.
What is the official dollar price
He retail dollar sold to $225.21 averagewith a rise of 17 cents compared to yesterday.
In it wholesale marketthe US currency is being offered at an average of $218.50, up 51 cents from the previous close.
Thus, the dollar with the 30% surcharge -contemplated in the COUNTRY tax-, marks an average of $292.77 per unit, and with the advance on account of the Income Tax of 35% on the purchase of foreign currency, to $371 .60.
Meanwhile, the dollar allocated to tourism abroad -and which has a rate of 45%- stands at $394.12, while for purchases over 300 dollars -and which has an additional tax of 25%-, it is located in $450,76.
The currency gap
Lastly, the exchange gap between the average retail dollar published by the BCRA and the different exchange rates is as follows:
- Blue: 92%
- CCL: 93%
- MEP: 87%
