Dollar today | The blue fell sharply after Massa’s first announcements: how did the official and the financiers operate?

In the first round of the market after the formal assumption of Sergio Massa as minister, the price of blue fell. what happened to the officer

By Philip Mark

08/04/2022 – 5:45 p.m.

As planned, the first conference of Serge Massa as Minister of Economy, it was carried out after the closing of the markets, so it was not possible to see in real time how the different alternative dollar squareswhich are the blue and the financial, before the measures announced by the official. In this context, although the blue traded with a drop of seven pesos to $291 and the stock market dollars closed with increases of up to 1.4%.

Market sources told Iprofesional that so far there has been no change in the trend in the foreign exchange market.

“In the Single and Free Exchange Market (MULC) the situation has not changed so far. The BCRA continues with its sales positions as it was seen in the previous days. Sergio Massa is going to have to hurry with the proposal that is going to to do to the agricultural sector if it intends to start liquidating its foreign currency,” assured a renowned foreign exchange market operator.

And added that “the blue was with a giant overshoot. It stands to reason that she would back down at the slightest shock of expectation. You are now looking for a new equilibrium price that is likely to be between $290 and $280.“.

In this sense, various analysts say that it is “too soon” to see a change in the trend in the MULC and in the stock market dollars.

“So far Massa’s proposal is interesting. But we prefer to take a wait and see stance, because we want to understand how much real support Massa is going to have on his domestic front. If there is no convincing fiscal proposal, combined with an exchange rate that is attractive to agriculture, we can see a rebound in all prices”, a renowned head portfolio manager told iProfesional.

Thus, in the stock market, the dollar counted with liquidation (CCL) advanced to $289.60; Meanwhile he MEP (Electronic Payment Market) increased to $286.24.

The Dolar blue it was negotiated at $291 for the sale and $286 for the purchase.

For its part, the official retail dollar pricel, according to the average issued by the BCRA, quoted $139.67, with a rise of 36 cents compared to the day before.

In the wholesale segmentthe price of the US currency registered an increase of 22 cents compared to the previous close, at an average of $132.64.

The blue dollar traded lower

How much is the blue dollar trading today

The blue dollar was traded at $291 for sale and $286 for purchase.

How financial dollars operate

In the stock market, the dollar counted with liquidation (CCL) advanced to $289.60; Meanwhile he MEP (Electronic Payment Market) increased to $286.24.

The official retail dollar traded higher.

What is the price of the official dollar

The price of official retail dollar quoted $139.67, with a rise of 36 cents in relation to the day before.

In this way, the dollar with the 30% surcharge -contemplated in the COUNTRY tax-, marks an average of $181.80 per unit, and with the advance payment on account of the Income Tax of 35% on the purchase of foreign currency , comes to $230.75.

Meanwhile, the dollar for tourism abroad -and which has an aliquot of 45%- is located at $244.73.

In the wholesale segmentthe price of the US currency registered an increase of 22 cents compared to the previous close, at an average of $132.64.

Market sources estimated that the monetary authority ended the day on Wednesday with sales for an approximate amount of US$150 million, in a round in which payments for the same amount were made in the energy category.

The exchange rate gap

Finally, the exchange gap between the retail dollar issued by the BCRA and the different exchange rates is as follows:

  • Blue 108%
  • LCC 106%
  • MEP 104%

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