The blue dollar passed the psychological barrier of $400. Thus, it set a new nominal record in its price. Is it still cheap?
By iProfessional
14/04/2023 – 07,29hs
The blue dollar passed the psychological barrier of $400. Thus, it set a new nominal record in its price.
Is it the most expensive price in history? No. And that’s how he explains it the economist Salvador Vitelli, by Romano Group.
According to his calculations, adjusted in real terms (with inflation), the blue dollar at $400 today is $26 below its average for all of 2022 and so far in 2023.
And lower ($60 pesos less) if the average of the entire management of Alberto Fernández is taken.
Also, Vitali remember two important increases in the dollar in the Frente de Todos government. For example, to match the overshooting (“overreaction”) of October 2020, today the blue dollar should be worth $733; while for July 2022, the value should be 556 pesos.
The blue dollar broke a new record: is it still cheap?
But in addition, Vitelli recalled the statements of the Buenos Aires legislator García Moritan, who in July 2021 stated that, by the end of that year, the dollar would reach 400 pesos.
If it is updated, that same $400 would be $1,082 today. At the level of inflation, the price of $400, compared to the rise in the CPI in the last twelve months, is 5% below.
But also, if the rise in the blue today is compared with the inflation of the first months of 2023, the ticket is 7% below. That is to say, to tie, it should trade at 426 pesos
???? “MORITÁN” DOLLAR The blue in some places is already trading above $400, reminiscent of the so-called “Moritán” dollar of $400. The truth is that at the time of such declaration, if we adjust it for inflation, it is a dollar TODAY of $ 1,082.???? Let’s not get lost in nominality. pic.twitter.com/4qLSKtcZ5t— Salvador Vitelli (@SalvadorVitell1) April 13, 2023
Meanwhile, the Central Bank made purchases today for US$332 million, the highest figure so far this year. In this way, the monetary entity ended with a positive balance for the third consecutive round, after 23 days of sales.
The purchase of US$332 million occurs after the launch last Monday of a new edition of the Export Increase Program (PIE), with a temporary differential exchange rate of $300 per dollar for the soybean complex and regional economies. On Tuesday and Wednesday, the monetary authority acquired $2 million on each of those days.
Meanwhile, the dollar with the 30% surcharge -contemplated in the COUNTRY tax-, marked an average of $288.11 per unit, and with the advance on account of the Income Tax of 35% on the purchase of foreign currency, to $365.67. Meanwhile, the dollar destined for tourism abroad -and which has a rate of 45%- was located at $387.83, while for purchases over 300 dollars -and which has an additional tax of 25 %-, was located at 443.24 pesos.
The volume traded in the spot segment was US$951 million, in the futures sector of the Mercado Abierto Electrónico (MAE) operations were registered for US$60 million and US$510 million in the Rofex futures market.
