In times of high inflation like the current one, the chances of getting some advantage against a price index which is usually relentless are obviously quite limited. So, for example, in the case of Fixed deadlinesthe interest rate set by the Central Bank is usually below inflation and the green ticket usually alternates positive and negative results.
But just as the scenario is frankly adverse for those who opt for traditional placements, there are also some opportunities that should be taken advantage of, since they do not usually extend for many days.
Such is the case of “roll” that arises from arbitrating between two market segments: the blue and the dollar MEP.
What is the MEP dollar? First of all, MEP stands for Electronic Payment Market. This dollar is also known as Stock or financial. It is an exchange rate that is operated in the capital market and starts from buying a financial asset in pesos and, later, selling it in the US currency..
The division between the price in pesos and the price in dollars will return the implicit exchange rate accessed. As for its price, it currently stands at just over $430, that is, well below the price of blue, which gives rise to this type of operation.
The MEP dollar is also known as Stock or financial
In general, the operation is extremely simple and you only need to comply with a series of minimum requirementsamong which stand out:
• Have an account in pesos and another in dollars in the name of the same owner.
• Have a principal account opened in a stock exchange or investment company in a bank.
Besides, comply with the conditions imposed by the CNV (National Securities Commission) or the Banco Central, in terms of not presenting inconsistencies from the regulatory point of viewamong which can be mentioned:
• Not having bought solidarity dollars in the last 90 days.
• Not having received a salary from a company that benefited from the ATP program.
• Not be a beneficiary of IFE, AUH or any other social plan.
• Have refinanced installments and credit cards for 12 months.
• UVA debtors who benefited from the freezing of UVA mortgage payments until July 2022.
• Have declared income.
In a context of high inflation there are few options that allow you to make some profit in a short time
How is the operation with the dollar?
The way to carry out the operation is as follows: you buy with pesos a dollar title that is quoted in both currencies, the most widely used at this time being the GD30, that is, the Global Bond 2030 and to a lesser extent the AL30.
Once the purchase is confirmed, this bond must be left “rest” for a period of 24 business hours, to then sell it but in its dollar version, after which the financial intermediary is requested, be it a brokerage firm or a bank to transfer the tickets to the holder’s account. It should be noted that what this term seeks is to give some uncertainty to the closing price of the operation, which implies a certain risk for whoever operates it.
As a simple example, who has $100.000 you can buy 800 GD30 bonds trading at $120 each. Once the “parking” has been completed, he will give the sale order, but this time in its dollar version, that is, the GD30D, which is priced at $27.75 for each 100 sheet.
From the proceeds of your sale, you will obtain 230 dollarswhich will later be able to sell in the blue at a buying rate of 470 pesos, ultimately charging $108.100. As a result of this simple operation, a return of 8% will then be obtained, which exceeds the performance of a 30-day fixed term.
There is also the possibility of going the other way, that is, dollars are sold in the blue and GD30 is bought with the pesos, kept for one day and then sold in dollars, as in the previous case.
Whoever sells $213 in blue will get $100,000. As in the previous case, with that amount you will buy 800 Global bonds at $120 and then sell them in their “D” version, to end up earning about $232. In this way you will end up making a profit of about 19 dollars.
