The foreign exchange market remained calm on Tuesday and the blue dollar posted a new low. Past noon, ang the bill dropped to $ 196three pesos less than the previous closing.

The value of the informal dollar is the youngest since December 14, 2021, with an official dollar gap of 75.4%, minimums not seen since June last year.

The informal exchange rate decreases since the agreement with the IMF and in the city they believe the exchange rate could last until the middle of the yearo. The informal movement of the dollar is associated with lowering monetary exchange rates. Cash with liquidation closed at $ 190 while the MEP dollar ended a few cents higher, at $ 190.19.

Thus, these stock exchange rates they are cheaper than unity dollars ($ 193). But traders believe they may be close to their bottom. “The blue fall occurs from the fall of cash, where prices fall because of the income of funds that seek to earn at the rate of bonds tied to inflation. The famous carrytrade “, explanation of a money changer.

“But the nominal floor of the CCL is $ 180, so I think it’s short -lived. It doesn’t have to travel much downhill,” he added.

In the official market, the wholesale dollar ended 13 cents above Monday’s close at $ 111.70. The BCRA continues to accelerate the daily devaluation rate: with the increase on Tuesday, the annual nominal depreciation rate of the peso reached 50%.

“In the first two days of this week, the wholesale exchange rate rose by fifty -eight cents, against an increase of forty -four cents in the same period last week,” said Gustavo Quintana, from PR Corredores de Changes.ang

angFor their part, Cohen analysts said: “Surprising movements were observed in various exchange rate -related segments. Yesterday the BCRA changed the exchange rate by 0.4% – equivalent to the annualized 60% (TEA) – for the second consecutive day. ” At the same time, they added: “As far as the futures market is concerned, the BCRA appears to be running, allowing the market to justify higher implied rates.”

What is remarkable here is that, at the end of the month and beginning of the next, the monetary entity typically sells contracts to avoid price increases that would affect its global position (sales at approximately US $ 2,700 million, according to in the latest report), “they added.

“This time, and for a lot of tires, the dynamics seem to have changed, leaving a question about his future actions, ”they added.

Factors that pushed parallel exchange rates at the beginning of 2022, such as the large injection of the peso in the latter part of last year and the uncertainty caused by the lack of growth in the IMF They seem to have cleaned up.

Upon signing the agreement with the Fund, although many of the doubts about the near future of the economy remain, there is also a certainty: inflation will continue to win races the rest of the year, and the exchange rate update will lead backwards.

From January to March, the BCRA proved an 8% increase in the official dollar, but the remaining prices in the economy moved closer to 15%.

NE