The blue dollar remains at $ 206.5 after the ups and downs of the previous days

After the seesaw in recent days, which led to a rise of 7 pesos on Tuesday and then a drop of 6 pesos on Wednesday, this Thursday the blue dollar remains calm. quote sa $ 206.5 in the caves of Microcentro, as it costs $ 208 in the neighborhoods furthest from the center,

Informal hit $ 212.5 on Tuesday, after an increase of 17 pesos on just six wheels. Yesterday it turned around and came back, though for analysts there is still room to climb.

It was still far from the peak of the year, recorded on January 27, when it reached $ 223 amid uncertainty over whether to sign the Monetary Fund agreement. the

In signs that agreement is imminent, the alternative dollars -both the blue one and the one counted with liqui and MEP- they expel air. The informal dropped on April 12 when it reached $ 195. And after a week of calm, it resumed the climb. the

At the current price, the gap related to the wholesale dollar, which has now opened $ 115.17, it reached 78%, after reaching 85% on Tuesday.

MEP, which trades on the Buenos Aires Stock Exchange, rose 0.5%, at $ 208.5. While cash with liquidity, the operation to take foreign currency abroad, will yield 0.2%, in $ 210.2. Within ten days the CCL climbed by 22 pesos, up 12%.

Argentina’s bonds are also falling, while the risk to the country remains at 1778 basis points.

Now Merval is down 0.5% and in New York, Argentine stocks are declining. The largest shrinkage corresponds to Despegar, with 3%.

Rising inflation, rising public spending and falling value of regional currencies come together to put pressure on the foreign exchange market, which until 10 days ago had been calm for several weeks.

theIn this context, investment funds aim to leave emerging markets find a safer position amid a strengthening dollar and restricting Federal Reserve policies. At the local level, funds use liquid cash to come out and it pushes up the price, which in turn marks a bullish course for the blue.

The difficulty of the Central Bank to add reserves also affects the market. Just two wheels from the end of the month, the financial authority has barely accumulated purchases $ 164 millionagainst the US $ 1,370 million it pocketed in the same month last year.

“In a bi-monetary economy like we have, the price of the dollar is important. Now, expectations have a concoction of political uncertainty and lack of financial control that could cause the exchange rate gap to return to levels we had a month or two ago. We rarely have a lack of financial control like we do today, ”said economist Miguel Angel Broda.

Another element driving the alternative dollar is inflation, which this month It is structured to hold 6%, after 6.7% in March. For consultants, 60% is the new floor for annual inflation, although some estimates are closer to 70%.

For Broda, the basic scenario is that inflation ends up between 65 and 70%,

AQ