Friday April 28, 2023 | 7:54 p.m.
The blue dollar jumped $74 throughout April, flirting this week with $500, although the month ended with tense calm, amid official interventions in the dollar financial market and after the Central Bank (BCRA) raised in 1,000 basis points your reference rate.
The parallel dollar rebounded $2 this Friday and closed at $469 for sale on the black market for currencies, after falling $21 on Wednesday and another $7 on Thursday. Let’s remember that between Monday and Tuesday, the currency had jumped $53, in an abrupt upward movement that led it to mark a nominal record of $497. In this context, the gap with the official exchange rate stands at 110.6%.
During the week, the blue recorded an advance of $27 (+6.1%), while in the month, it accumulated a rise of $74 (+18.7%), the highest since July 2022, when it jumped 24 .4%, going from $238 to $296 (+$58), in the midst of the political and economic crisis after the departure of Minister Guzmán of Economy.
The board of the monetary authority sharply increased the yield of the letter ‘Leliq’ on Thursday to 91% annual (TNA), from a previous 81% in its monetary policy. “The decision of the monetary authority is based on the objective of tending towards positive real returns on investments in local currency and acting to preserve monetary and financial stability,” said a statement from the BCRA.
Simultaneously and with the idea of boosting savings in pesos, the BCRA also raised the minimum guaranteed rate and tripled the taxable amount on fixed terms of individuals. A positive real rate is one of the points agreed between Argentina and the International Monetary Fund (IMF) in the latest agreement.
Let us remember that on Tuesday, the blue dollar jumped $33 to $495, after having touched $500, which led the Minister of Economy, Sergio Massa, to announce that the Government would intervene strongly in the financial markets of the dollar, something that materialized. with the passing of the hours.
Massa promised to use “all the tools of the State to order this situation and in this sense we notified the IMF of the restrictions that weighed on Argentina and we are going to change in the rediscussion of the program,” he added.
Operators commented that taking short profits after record levels and important official interventions through sales of bonds and currencies, managed to appease the rise of the dollar in alternative markets, at a time when the liquidations of agricultural exporters under the so-called soybean dollar 3 would not be covering the expectations of the government.
So far in 2023, the blue dollar accumulated a rise of $123 (+35.6%) after closing 2022 at $346.
Source: Scope
