Alternative dollars They fell again this Tuesday after the rebound on Monday, in the uncertainty of the effects that the Government’s decision to cancel the tax chapter of the omnibus law will have on the market.
The blue dollar fell 10 pesos in this wheel, $1,215. That’s forty pesos below the peak of $1,255 who played a week ago.
The decline extended to alternative dollars. The MEP lost 1% and closed at $1,208, driven by falling local currency bond prices. Liquidity with settlement increased by 0.5%, $1,268.
With the exception of Monday, in the last few rounds the alternative dollars have moved downwards following the shift in demand from importers from this market to BOPREAL, the security with which the Government settles the debt with this sector.
The last tender of the month for this title will take place this Wednesday and everything indicates that the 5 billion dollars allocated will be completed.
In this context, the Central Bank raised its target and purchased others $167 million, nearly double the $84 million it took in on Monday.
The Central’s operations thus once again exceeded 100 million dollars a day. In this way he bagged 3,283 million dollars in the month, when there is still one wheel left until the end of January. There have already been 33 consecutive shopping days.
“This unprecedented record was made possible because exporters turned to massive liquidations “after the discreet record jump of the official dollar and the Central Bank they purchased practically all of this supply in the face of a demand that remained very limited,” underline from Portfolio Personal Inversions (PPI).
The volume of purchases by the Central was surprising because it began to grow again in a context in which importers had already begun to access the Single Market and Free Trade. This Tuesday they took the importers 189 million dollars of the US$356 million operated in the wheel.
Despite the increase in purchases, reserves in this wheel have decreased 50 million dollars. According to Aurum Valores’ estimate, without considering the MULC result, gross reserves would decrease by $216 million. And this would be a consequence of the fact that debt payments of $226 million have been made in bilateral loan payments, bond maturities and debts with the Andean Development Confederation (CAF).
With this the net reserves, the real firepower available to the Center, They currently amount to around $7 billion. and they are moving away from the red of 11 billion dollars recorded a month ago.
In this climate, the Merval rose 1.1% in pesos and 0.6% in dollars after Monday’s decline and In New York, Argentine stocks went up and down. For their part, Argentine dollar bonds fell by around 1%.
“ADRs operated in a mixed manner throughout the round in a highly politicized context, The market awaits the measures that the Government could adopt, especially in relation to fiscal measures that can promote order in the macroeconomy”, indicated Leonel Buccolo, of Rava Bursátil.
“Compared to Monday, prices in general improved thanks to the financial sector, which was punished despite its modest sums. The highlight of the day is Galicia with a slight increase of around 0.66%“added the specialist.
On the fixed income front, dollar government bonds traded lower, with declines of about 1%. Notably, the AL30 failed to consolidate at US$40 and lost 1.22%.
Source: Clarin
