The blue dollar is rising.
The blue dollar rose three pesos at its opening on Wednesday and reached $ 205. Informal continues its upward trend this week, after last week’s decline. This blue rebound coincides with the brake placed by the Central Bank yesterday on the purchases it makes in the Single and Free Exchange Market (MULC). Then bag $ 630 million on the first six wheels of May, only on Tuesday he could buy $ 5 million.
In the first week of May, agro-exporters liquidated $ 1.4 billion. The Rosario Cereal Exchange estimates that the month could close with a record settlement of $ 4 billion and the year will end with a favorable balance of $ 51 billion.
Central took advantage of this high flow of foreign currency to shop, without the risk that the price of alternative dollars would rise.
But yesterday there was a change, when from one day to the next he went from buying US $ 110 million to getting only 5 million.
Amid the rise of the blue, operators ’attention is focused on the result now available to the entity led by Miguel Pesce. Central’s foreign exchange accumulation this quarter – the one with the highest liquidation in the field – will be determined to meet the target of US $ 5,800 million of net reserves established in the Monetary Fund agreement.
As the blue rises, the financial dollar decreases. The MEP dollar, which trades on the Buenos Aires Stock Exchange, fell 0.8%, to $ 206.4 and cash with liquidation, which allows foreign currency to be withdrawn from the country, will yield 0.9%, to $ 207.2.
theFor their part, the bonds are recovering with increases of approximately 2%, leading to the country’s risk of dropping 1%. JP Morgan’s indicator that measures the excess rate Argentina must pay for borrowing affects 1839 basis points.
As of last Monday, the decline in international markets led Argentine shares to sink up to 17% in New York, this session along with the Dow Jones with a slight increase of 0.1%, ADRs advance up to 8%led by Transportadora Gas del Sur and Mercado Libre.
In Buenos Aires, Merval was 2.6% and recovering from a positive trend over the year, with a cumulative 1.2%.
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Source: Clarin
