The dollar blue closed up $10 and reached $418 for the first time, on a day with little supply and price dispersion.
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The dollar used by companies hit $426 in a hot wheel that ended with the resignation of Alberto’s director
After the record inflation of 7.7% in March, known last week, the markets reacted on Tuesday with parallel dollars rising to $426 in case of cash with liquidity, bonds falls by up to 2.5% and the increase in country risk to 2,470 points. All this amid the weak performance of the soybean dollar and the move of the main presidential adviser, Antonio Aracre, after rumors about the possible departure of Sergio Massa and his replacement by Aracre.
The leap in alternative dollars – blue, counted with liquids or MEPs – then reflected the nervousness caused in operators by the possibility of Massa leaving and his replacement with Aracre. The indiscretions, promoted by the Casa Rosada, were deactivated when the markets closed, when the exchange peak was by then over. It was Aracre himself who announced via twitter that he would leave his post. To know more.
The Central Bank only bought $1 million for its reserves, despite the soybean dollar
The Central Bank bought only $1 million in one day in the foreign exchange market on Tuesday with reduced soybean settlement, again reflecting difficulties in accumulating reserves. $180 million was traded on the wheel, but only $36 million entered through the export incentive program. And since the Monetary Authority sold $35 million, it had to settle for a limited balance in its favor.
The level of purchases was the lowest since last Wednesday, when the Central managed to obtain the same amount of reserves. The next day alone, with the strong kick-off of $574 million in foreign exchange settlement, the BCRA bought $332 million. But supply retreated again as parallel dollars overheated and the exchange rate gap with the official dollar widened, which closed at $216 on Tuesday. To know more.
Source: Clarin
