The company reported “very strong rumors” of a 50 percent exchange jump for next Monday and the message went viral.
By iProfessional
22/04/2023 – 12,40hs
He Ministry of Economy will open a summary brokerage company Max Capital SA for spreading that on Monday there could be a 50% devaluation of the peso and fueling rumors of a resignation by the minister, Sergio Massa.
They will also seek to have it intervened by the National Securities Commission, which regulates this type of financial company. “We are going to fall with the Gendarmerie,” they assured in the Palacio de Hacienda.
According to official sources, the message was “sent by the company to all its customers” and it went viral in a few minutes. “They sent it to their entire fund base abroad. Those funds forwarded us the message asking if that could be true, but we made it clear that they were nonsense rumors,” they added.
Specifically, the message issued by the stock exchange company indicates -in a text in English- that there are “very strong rumors of a currency devaluation on Monday (by April 24) circulating in the local market”.
“FX DEVALUATION RUMORS: VERY strong rumors of a currency devaluation on Monday are circulating in the local market. The BCRA would not allow any importer to access the foreign exchange market today, telling them that the window will reopen on Monday. It is rumored that this is why that President Fernández resigned today from the presidential race”, says the text that circulated.
“The rumor is a 50% devaluation right at the open. The question locally is whether Massa will stay in office afterwards. BCS (counted on liquid) weakened to 453 from 435 yesterday (vs 405 last Friday) fueled by these rumors. NDF (futures) and USD market-linked bonds are in high demand. The government is now again trying to sell off globals to tame the BCS.”
The blue dollar reached an intraday record of $442
The different prices of the dollar rise
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, the Dolar blue closed this Friday with an increase of ten pesos to $442 in the caves of downtown Buenos Aires, with which it scored a new all-time high and advanced $42 compared to last Friday.
While, financial dollars closed with an upward trend of up to 4.4% and registered new records, despite state intervention to prevent its triggering.
In this way, the exchange gap of all free dollars returned to the 100% zone, in relation to the average dollar of the BCRA.
Market sources told iProfessional that the decision to drop the president’s candidacy will have “little impact on the exchange market,” since the dollarization of portfolios responds “not only to political issues, but also to economic ones.”
In the stock market, the dollar counted with liquidation (CCL) was traded to $455,08 and in the week it advanced $46, while the MEP was offered at $437.75 and in the last five days it increased $43.
In the foreign exchange market, the retail dollar closed today at an average of $225.58, with an increase of 37 cents compared to the last record, and thus marked a weekly advance of $3.81, equivalent to a rise of 1.78 %. In the wholesale market, the US currency ended with an increase of 54 cents compared to the previous closing, at an average of $218.53, while in the week it showed an accumulated increase of $3.43 (+1.59%) .
As relevant data of the day, the Central Bank closed with a positive balance of US$289 million, with which throughout the week it made purchases for US$210 million in the exchange market.
