The march of the blue dollar does not stop. To such an extent that two weights jumped on this wheel and it hit $385 to catch up with the Qatari dollar. With this, the gap with respect to the official exchange rate increases to 107%.
Thus the blue and the Qatari dollar, the price for those who spend abroad the equivalent of more than 300 US dollars in a month, become the most expensive on the market.
The Qatari dollar is composed of the dollar retail price, today at $193, plus 30% PAIS tax, 45% advance on earnings, and 25% advance on personal property.
With this draw, the rise of the Azzurri should find a first ceiling. The reason is that it is no longer attractive for tourists to travel with tickets, as was the case a month ago, when the difference between the two prices exceeded 30 pesos.
With limited demand, the fuel for the increase in informality comes from the supply side, with fewer tourists selling dollars in the caves because it is now cheaper for them to use the card, which allows them to pay at the value of the dollar MEP .
But blue also rises in the heat of inflation, which should close the month at 6% and creates uncertainty as to what will happen in the coming months. At the same time that blue almost doubles the rate of price increase, it fuels the inflationary escalation.
Raised up the money with liquid
The MEP, which had reached $356 at half a wheel, finished up $352.2 barely a 0.1% increase from Wednesday’s price. While cash with liquidity, the way that allows the country to withdraw foreign currency, rose by 0.9% and closed at $369.3.
So far this year, blue is up 11% and the financial dollar is up 7.3%. The casual had a jump of 39 pesos when three wheels are missing for the end of the month.
Minister Sergio Massa’s decision last week to buy back $1 billion of debt had little impact on country risk. With 1837 basis points down only 2.5% from the day of the announcementalthough it is up 0.2% this session.
Therefore, the expected effect on alternative dollars has not occurred. Cash with cash has increased by seven pesos since January 17 and reached its all-time high.
The same goes for the blue dollar: it is trading at its higher face value, although it is far from the October 2020 “overshoot”. The $195 it hit in that moment is equivalent to $630 todayaccording to the calculation of the economist Salvador Vitelli, of the Roman Group,
And as blue approaches $400, it is also far from the prophecy of Buenos Aires legislator Roberto García Moritán.
“Argentina’s nominality makes any apocalyptic forecast on financial variables obsolete. The famous “dollar at 400 dollars” projection of July 2021 today it would be equivalent to $928 at constant prices. In between, the accumulated inflation was 132%,” said economist Nery Persichini, of GMA Capital.
The Central Bank has had another round of losses. Sold this Thursday 45 million dollarsif therefore the balance which in mid-January had become positive by US$ 285 million, is now negative by US$ 48 million.
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Source: Clarin
