The dollar is still five pesos above the 195 floor it made two weeks ago. Photo EFE
From Tuesday’s peak, when it hit $ 212.5, the blue dollar began to deplete and this Friday is back another $ 5, from 204 that closed on Thursday, at $ 199. After noon it was recovered in the caves and exchanged for $ 200.
Informal hit $ 212.5 on Tuesday, after rising 17 pesos on just six wheels. On Wednesday it turned around and came back, though for analysts there is still room to climb.
At the current price, the gap related to the wholesale dollar, which has now opened $ 115.32, it reached 73.5%, after reaching 85% on Tuesday.
The parallel ticket has risen a lot at once and now is the Companies have to sell to pay the income tax due of May and the joint round.
The blue is still far away peak of the year, which was registered on Jan. 27, when it reached $ 223 amid uncertainty over whether to sign the Monetary Fund agreement. ang
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. ang
MEP, which trades on the Buenos Aires Stock Exchange, rose 0.6%, at $ 205.6. While cash is liquid, the operation to obtain foreign currency abroad increases by 1%, up $ 207.4.
Alternative dollars are carrying on three days down after the strong rise that began last week and lasted until Tuesday.
Bonds in Argentina are likely to collapse after the recovery they showed yesterday. Most Argentine stocks fell on Wall Street, with few exceptions led by Edenor which fell 3.6%. ang
The country’s risk rose 0.9%, 1794 basis points.
For analysts, despite this break, market volatility is far from over. Rising public spending, rising inflation and the depreciation of regional currencies are putting pressure on the foreign exchange market.
Mutual funds try to exit emerging markets in order find a safer position amid restrictions on 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 is also affecting the market. This Thursday he ended his interventions with neutral results. Just one round before the end of the month, he barely accumulated purchases $ 164 millionagainst the US $ 1,370 million it pocketed in the same month last year.
“This Sunday the release of investment funds began, taking advantage of the lower price of financial dollars in a market where there is not much supply from the other side. Although there is volatility and financial rise between 8 and 11%, it should be considered not much volume“, said Sebastián Menescaldi, director of EcoGo.
“Being a small market with a lot of volatility going forward we see more lateral movements. We won’t see big changes in the short term, but the exchange rate gap could be between 60 and 80%, ”he said.
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Source: Clarin
