The dollars continue to search for their new equilibrium point and the market wonders if the Government will support its price in the face of a rise
For iProfessional
01/17/2023 – 07:20 a.m.
The Dolar blue List this Tuesday at $370 in the caves of downtown Buenos Aires, a value that means a new all-time high. Monday’s was a session of marked upward pressure, where the currency reached an intraday record of $375, but the rise was cut back around noon.
Market sources pointed to iProfessional that the rise in the blue is strongly linked to the lack of liquidity that the caves have to meet the demand for dollars.
“With the appearance of dollar card for tourists, the caves lost an important source of liquidity that, until now, there was no way to supplant. Per day, money changers need between 1 and 2 million dollars. It’s a small market, but if you don’t have a way to cope with the demand, the price immediately skyrockets,” explained an exchange operator from the City of Buenos Aires.
The increase in the price of blue, is “destroying” fixed terms. In 30 days, the currency was up more than 20% and liquidated the performance of 90 days of performance. According to estimates by market specialists, the currency is still in a bullish channel and its next objective is to reach $380 and, if it exceeds it, the next one will be $400.
In the stock segment, the dollar counted with liquidation (CCL) is trading at $356.38, while the MEP (Electronic Payment Market) does it at $344.03.
For its part, the retail dollar is trading at an average of $189.47. In the wholesale segment, the US currency stands at an average of $182.20.
The market wonders if this year the Government will step on the dollar or follow inflation
As relevant data from Monday, the Central Bank ended the day with purchases for 4 million dollars. Thus, it reached nineteen consecutive days without sales in the segment where banks and large companies operate.
How much is the blue dollar trading today?
The Dolar blue operates at $370 for sale and $367 to buy.
How financial dollars operate
In the stock segment, the dollar counted with liquidation (CCL) is traded at $356.38Meanwhile he MEP (Electronic Payment Market) does so through $344.03.
What is the official dollar price
The retail dollar trades at $189.47 average.
In the wholesale segment, the US currency stands at an average of $182.20.
Thus, the dollar with the 30% surcharge -contemplated in the COUNTRY tax-, marks an average of $246.31 per unit, and with the advance on account of the Income Tax of 35% on the purchase of foreign currency, to $312 .62.
The blue dollar climbed again to record levels.
Meanwhile, the dollar allocated to tourism abroad -and which has a rate of 45%- stands at $331.57, while for purchases over 300 dollars -and which has an additional tax of 25%-, it is located in $378.94.
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: 96%
- CCL: 88%
- MEP: 81%
