While the government tries to alleviate inflation with a bonus for retirees who receive the minimum and the Minister of Economy, Sergio Massa, prepares to freeze the prices of 1,400 products, the price of dollar blue this Friday will set the tone for that currency this Thursday it closed at $ 292for the second consecutive day, and set the starting number in the foreign exchange market.
News in development
Retirements: up 15.62% in December and lost over the year due to inflation
The Minister of Economy Sergio Massa together with the head of ANSeS, the outside Fernanda Raverta
Even taking into account the fact that the government has granted a bonus of $ 10,000 to those who receive the minimum, the goods have risen less than the prices.
Starting December 1, all retirement benefits, pensions and other social benefits will have a 15.62% increase until February 28, 2023, according to the mobility formula, as announced by the Minister of Economy, Sergio Massa, and by the head of ANSeS, Fernanda Raverta.
But there is more. Read on here.
The rules of the rate: high yields in pesos put a ceiling on the blue dollar
Due to the high rates, investors are betting on peso.
The rise in pesos rates has been an effective tool for absorbing the demand for outstanding bills and lowering the pressure on alternative dollars. But analysts warn that this is a precarious balance that could break if central bank reserves continue to decline.
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The blue dollar closed at $ 292
The price of the US currency in the parallel market has held the same price as yesterday, although it has been building up since Monday.
With the blue dollar stretched, the outflow of reserves continues: the Central Bank has sold $ 95 million
The blue dollar remains stable.
This Thursday the Central Bank maintained the trend of the past eight rounds and sold $ 95 million. With that, $ 710 million of reserves have already gone this far in November.
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The official dollar closed at $ 167.50
The official dollar closed today at an average of $ 167.50, an increase of 33 cents compared to yesterday, while the stock dollars recorded increases of up to 1.3%.
In the informal segment, the so-called “blue” dollar traded unchanged at $ 292 per unit.
On the stock exchange, the dollar counted in liquidation (CCL) recorded an increase of 0.7%, to 308.57 dollars; while the MEP rose 1.3% to $ 297.77 in the final section of the session.
Meanwhile, the dollar destined for tourism abroad – and which has a rate of 45% – stood at 293.12 dollars, while for purchases over 300 dollars – and which has an additional tax of 25% – it stood at $ 335.
The official dollar rises by 50 cents and reaches $ 167
The US currency was up 50 cents this Thursday and is trading at $ 159 to buy and $ 167 to sell at Banco Nación.
Financial dollars, with a slight increase
The dollar counted with the liquidation rises 0.5% and is trading at $ 307.96, while the MEP (or stock dollar) rises 1% and stands at $ 296.76.
Markets recover from Wednesday’s misstep
Markets started higher on Thursday after Merval’s 3% drop on Wednesday. The Buenos Aires stock market recovers 1.2% and follows the positive trend of Wall Street, which today shows rises of up to 6% in the Nasdaq and 4% in the S&P, the index that groups the 500 largest companies.
Wednesday’s decline was a consequence of uncertainty over the outcome of the mid-term elections in the United States, but today with the clearest calculations, equity markets are rising again. This is also passed on to New York-listed Argentine stocks, with jumps of up to 8% in Globant and 7% in Mercado Libre. Argentine dollar bonds rise by more than 2%.
The biggest fear of industrialists: that the business will stop
At this conference of the Union of Industrialists, businessmen are sometimes more attentive to the ongoing negotiations with the government on prices than what is said in the panels. Time is running out, Sergio Massa wants to announce it tomorrow. Daniel Funes de Rioja, head of the UIA, told Clarín that if it is “agreed prices”, they will have me in the photo. But he made it clear that there must be a “context to keep prices quiet until March”. So he referred to the exchange anchor, to the fact that there are no reinforcements outside parity in a sector like the food sector where labor accounts for 25% of the cost of SMEs and another 20% in logistics. Read more here.
The blue dollar remains at $ 292
The parallel dollar remains at $ 292, unchanged since Wednesday in a trend that has been maintained in recent days.
The UIA conditions the price freeze agreement on the release of dollars to be imported
The president of the UIA, Daniel Funes Rioja. Photo Guillermo Rodriguez Adami
The head of the Argentine Industrial Union (UIA), Daniel Funes de Rioja, on Thursday conditioned the sector’s support for the price freezing program that the government will launch, stressing that it must be “voluntary” with a counterpart of authorization to access the dollars support manufacturing processes. Read more here.
Blue opens unchanged and is trading at $ 292
The blue dollar opened this Thursday unchanged and is trading at $ 288 in buy and $ 292 in sale.
The official dollar opens unchanged and is trading at $ 166.50
The US currency opened unchanged this Thursday and is trading at $ 158.50 to buy and $ 166.50 to sell at Banco Nación.
The bleeding of reserves continues: the Central Bank has already sold 618 million dollars in November
The outflow of foreign currency does not stop: this Wednesday the Central Bank had to sell another 80 million dollars, in a market where the supply is scarce and cannot cover the demand.
In the seven reels that go into November, the monetary authority has already had to deliver $ 618 million. From Miguel Pesce’s team they try to play down the issue, saying that this tends to be a short month: in the same month of 2021, 900 million dollars were lost. Read more here.
Source: Clarin
