The blue dollar already reaches $480 on another hot day in the financial market

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For the eleventh consecutive round, The blue dollar is on the rise and this Tuesday skip $18 and hit $480 at the start of the trading day.

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The coin thus accumulating a jump of $88 since the beginning of April and puts all the variables of the economy under pressure. It also puts pressure on the political prisoner: Monday the president had to “ratify into office” central banker Miguel Pesce in a climate of strong tensions between the economic figures of the Government.

After Monday’s $20 jump, they’re on the road much dispersion in prices, few operations and a lot of tension. “There are no dollars“said a clarion an operator

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The rise of the blue this Tuesday in the street is accompanied by a high demand for dollars in the marketwhile the Municipality awaits the yield of the agricultural dollar and the announcements of new disbursements of “fresh dollars” that Sergio Massa is preparing this week,

On the stock exchanges, both liquid cash and the MEP dollar started the day higher: the former is up 1.5% and is on the verge of $470, while the higher is the growth of the MEP, the only “free” and “legal” contribution for ordinary savers: it reaches nearly 3% and settles at just under $462.

All parallel citations were late compared to this year’s inflation. But with the latter “run” started slowly but persistently from April 10, they were already able to beat the rise of the rest of the prices in the economy. Cash with cash advances up 36.4% and the dollar MEP stacks up nearly 41%.

To prevent the gap from exceeding 120% and entering a crisis zone, yesterday the Central Bank raised its daily devaluation rate to 8.2% per month. “If the pace of the last 5-day peg crawl is maintained through the end of the month, April will close with an increase of 6.9% compared to the last day of March and an average increase of 6.6% month over month, 0.7% above what is expected in the REM,” Cohen indicated.

What worries the market are the fragility of reserves and the poor performance of the “agricultural dollar”, the last rabbit in Sergio Massa’s galley to arrive safely at PASO, at least at PASO: before midday, exporters had injected just over $5 million at the wholesale market which was bought for $300. As of yesterday agriculture had liquidated $1,390 million and the Central Bank had been able to purchase $710 million.

Source: Clarin

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