In the first wheel of the month, parallel dollars move higher, in a market that awaits the postponed implementation of the “dollar of soybean 3”. Since the opening, the currency rises in price on the stock exchange and the MEP dollar has passed an all-time mark and topped $400. Settled cash, meanwhile, is near $410.
On the road, The blue dollar also moves with the volatility and drops $2 to $393 after midday.
On Friday, the government hinted that a new differential exchange rate for agriculture would come into force on the first day of the month, which would serve as an incentive for soybean producers to liquidate their meager harvests this year, punished with the effect of drought. But, over the weekend, negotiations with different sectors were delayed and the announcement should finally come this Wednesday.
Savers who buy dollars in the parallel market get impatient and the currency goes up. It is expected that, after losing more than $1.9 billion last month, the Central Bank maintains its sales dynamics on the market, at least until you know the fine print of the ads.
PPI analysts noted, “Strong selling can be expected from the BCRA in this short week (Wednesday depends on the time of the announcement) as oilseed and grain exports would leave MULC supply virtually deserted.” The organization headed by Miguel Pesce sold on average $100 million a day in March.
Thus, the stock of net reserves, which increased at the end of the week due to the inflow of a net flow from the IMF from US$2,671 million to US$2,977 million (without IMF adjustment) and US$2,164 million (on the basis of the agreement) will continue to suffer,” they told PPI. “Only starting next Monday could we start measuring the order of magnitude of the third dollar of soybeansthey added.
In the financial market, dollar bonds are up as much as 2% and equities are also in positive territory and the S&P Merval jumps as much as 2.8%. “The calmer tone of the north gives room for rest”said Gustavo Ber.
‘This is happening amid internal tugging by major political forces, whose definitions are getting close, and with the authorities still struggling to manage imbalances in this transition phase, especially by seeking foreign currency through the new version of the agro dollar’ and funds from international organizations, as well as any new measures to contain the increased pressure on exchange rates,” added the economist.
NS
Source: Clarin
