the blue dollar closed last Friday at $379, without variations compared to the price recorded in the parallel market of the previous day. Thus, in a short week due to the Carnival festivities, the US currency rose by two pesos in three days of operations.
New in development
Despite the more flexible arrangement with the IMF, the shortage of dollars will continue to be critical
Negotiations with the IMF to ease reserve requirements set out in last year’s deal come as a relief to the government. The official expectation is that the change in targets will reduce pressure to meet the schedule and allow it to continue receiving dollars from the agency to ease tensions ahead of the election. However, making the agreement more flexible does not solve the underlying problem of the lack of foreign currency, which will continue to affect the economy.
It was announced this weekend that an agreement had been reached with the IMF to make net reserve targets more flexible, meaning the central bank had to count $7.7 billion by the end of March, when it is lower of at least $3.5 billion. Between Monday and Tuesday the institution will formalize this change, which gives oxygen to the government in the short term and avoids the political blow of asking for an “exemption” for failure to achieve the objectives. To know more.
The dollar closed Friday at $379
On Friday the parallel dollar closed at $375 to buy and $379 to sellon a day in which there has been no change in its price since the opening.
Source: Clarin
