The blue dollar is up two pesos this session and closed at $357. Thus, it equaled the maximum value it had reached in December 2022, although on the last working day of that year it ended to $354. Today was the second largest increase of 2023.
The informal had started the day with enthusiasm and during the morning it reached 360 dollars in some points of the Microcentro, but after noon it stabilized at 357 dollars.
The ups and downs of blue are linked to greater demand from those traveling outside the country and those paying with bills rather than facing the price of the Qatari dollar, now in $375.
In a small market, ranging between 5 and 10 million dollars a day, small changes in demand affect the price, especially in a period of lower supply as foreign tourists start paying by card to take advantage of the sale. dollar and thus stop supplying the informal segment.
In financial dollars, the market continued to operate steadily. The MEP dollar, which is traded on the Buenos Aires stock market, fell 0.4% and was sold at $325.8 while cash with liquidity, the path taken by companies to become dollarized, fell 0.3%, a $330.
So far in the first month of the year, the MEP and CCL are down 0.6 and 3.2%, respectively, while the official exchange rate is up 1.8%, bringing the wholesaler to $180.3
This exchange rate calm has helped the Central Bank to rebuild its reserves. On this wheel bought US$12 million and already adding US$85 million so far in January. Trading calm allows you to connect fifteen consecutive rounds without selling reserves.
Throughout 2022, the Centrale was able to buy 5,824 million dollars and passed the 2021 milestone of $300 million. This increase was possible thanks to the effect of the soy dollar, which allowed the monetary authority to pocket 6.5 billion dollars in the two editions of this program,
The S&P Merval Index +0.2%while shares of Argentine companies on Wall Street soared as much as 4%.
In the fixed income segment, dollar bonds have gone up and down. Most notable is the 2.6% increase in the AL35.
In this context, country risk, the JP Morgan indicator which measures excess cost of debt, fell by 0.3% to 2,073 basis points.
Charles Arterburn is a seasoned business journalist for News Rebeat, where he provides comprehensive coverage of the latest trends and developments in the world of finance and economics.