At the end of the month, the parallel market moves with relative stability. He the blue dollar is trading at $493up $24 over the past 30 days, implying a 5% increase so far this month, well below inflation forecast for May by most of the council’s consultants, who see it above 9%.
After the latest equity adjustments, financial dollars are also quietly moving: the MEP dollar gains 0.8% this Tuesday and is just reached above $463. The price has jumped 6.2% so far in May, above the adjustment made by the price of street blue.
Enough the $30 difference between the price of a ticket on the street and the price of US currency you get on the stock exchange is what drives some savers to do the maneuver known as the “mash”: i.e. buying “cheap” in one market and selling it more expensive in the other.
Last week, the CNV aimed to cut “a cycle” that was making investors up to 20% in dollars a month. The body chaired by Sebastián Negri has established that all those who acquire dollars for operations with AL30 or GD30 bonds (MEP or CCL) for 15 days will be able to sell only those dollars with similar securities and not with LEDs.
The regulation does not prevent access to the dollars, so a saver who buys MEP dollars through bonds and wants to withdraw those dollars to sell them on the black market, I would find no limitations to do so and earn up to $30 per dollar. However, since these are two different markets, one legal and empty and one informal, it may not be an easy task “roll” indefinitely This way.
“It involves buying dollars on the exchange, withdrawing them from the bank and reselling them in the informal market and thus making a profit, the question that if you go back to dumping those pesos in the formal market may have a request for attention or intimidation from the AFIP or by some control body,” explained a market participant.
“This mechanism has certain ceilingis limited to small volumes and ultimately even threatens the investor himself if he decides to do so. At the very least, you should know the risks,” he added.
Source: Clarin
