In the last round of the year, the blue dollar and financial dollars deflated. Casual fell four pesos and finished 2022 at $346, an increase of 68% over the year, below inflation – estimated at 95% – and also the performance of term deposits in pesos which stood at between 80% and 91%.

Along with the decline in blue, the last day of Soybean II was recorded, with US$34 million settled on the day and another $84 million committed for next Monday and Tuesday. This allowed the power plant to buy US$ 133 million and closed the year with a favorable balance of US$ 5,824 million, higher than the 2021 record.

Last Wednesday the Azzurri closed at $357, the nominal record for the management of Alberto Fernández. For the whole month of December, the informal went up by 33 pesos, which is equivalent to an increase of 10.5%. In this case, the blue managed to beat inflation in the last month of the year: the consumer price index should close at 5.5%.

The decline extended to the MEP dollar, which is traded on the Buenos Aires stock market, which ended in $329.4, with an increase of 5.6% in the month and 67% in the year. While cash with cash, the way businesses are dollarized, has shut down $341.

From the government they celebrate the drop in alternative dollars and argue that the rise in recent days is due to a seasonal effect of the blue which spread “surprise” on financial dollars.

They explained that “the blue rose because those who go on vacation go out to buy and it is cheaper to pay with bills than with a one-dollar Qatari card”, today in $366. Those twenty different pesos are the key to explaining the higher demand for blue.

This increase in demand has coincided with lower supply, as the number of foreigners selling into caves for higher exchange is gradually declining. “With the introduction of the dollar for foreign tourists, more and more are choosing to pay with a card worth the dollar,” MEPs said in official cables.

This increase in blue has caused the contagion effect to increase demand in the MEP. “This movement has attracted attention because for seasonal reasons at the end of the year there are more companies looking for pesos. There were quite a few operations by individuals in the MEP between Monday and Tuesday as speculation started to be generated. But that artificial rise these days was corrected when they saw the blue deflate“.

Even if the tension on exchange rates has eased in recent days, on the part of the government They do not exclude that there may be new increases in blue next week. “Seasonal demand for blue will hold over the next ten days due to the holidays, but we hope it will start to calm down by the end of January,” they indicate.

In the last round of the year, the soybean dollar II contributed 34 million dollars, and committed another $84 million for January 3 and 4. Thus, they had total revenues of US$2,575.64 million in December and since the inception of the program on November 28, they have accrued income of $3,154 million.

This allowed the Central Bank to buy this Friday 133 million dollarsin the month you accumulated purchases for 1,987 million dollars and $5,824 million for the year, exceeding the 2021 mark by $300 million.

In the two versions of the soybean dollar, that of September and that of this month, the incentive to access a more competitive exchange -di $230 in the latter version – managed to get producers to sell more than 20 million tons and exporters to liquidate more than 17 million tons. This gave the Central Bank access to the purchase of $10 billionas detailed by the Rosario Exchange.

The Ministry of the Economy highlighted that the end of the year shows “excessive compliance with the accumulation objectives of reserves above the 440 million dollars“.

AQ