Although it seemed that tension in the parallel market had begun to ease this Monday, at the end of the trading round the blue dollar jumped again: it jumped $5 to $345, its highest value in 2022. Over the past six rounds, the ticket price has already risen by $21, enough to erase some of the lag it has lagged this year with respect to inflation.
The advance of the conflict between the nation and the Buenos Aires government over the partnership had had a positive impact on the start of the round and the price of blue had dropped a notch from the $340 it closed on Friday. But towards the end, the currency woke up and hit $345.
In this way, blue has become the most expensive “free” quote and puts both the liquidated cash and the MEP dollar under pressure. Both financial prices have lagged far behind: the MEP rises by 1.7% this Monday and is met $331.38; while settled cash remains almost stable $332.
On the market, they are closely following the evolution of agricultural settlements, in the last part of the “Soybean Dollar II” program, which expires this Friday. This Monday, in the context of a US holiday that left the local market without external references, overall exports came in at US$38 million.
To reach $3,000 million in soybean export revenue alone, these last five rounds needed agriculture to liquidate at least an average of $120 million a day before the end of the year. The dynamics of the parallel market can serve as a thermometer to see if this goal will be achieved.
Up to now, the export sector liquidated close to $2.4 billion in the official market thanks to the incentive of a higher dollar. The data correspond to CIARA CEC, which at the end of the weekend communicated that the revenues of the cereal-oil complex have reached $3,654 million. Thus, the soy dollar settlement is 60% lower than in the previous edition.
The central bank is finding it more difficult to capitalize this extra income for its international reserves. Last week the monetary authority acquired 177 million dollars, when it managed to buy $362 million the previous week. In this way, he accumulates purchases of US$ 900 million in the second edition of the Program.
Source: Clarin
