The blue dollar returns to $ 206 and is at the same level as at the beginning of the year

The blue dollar returns a peso on opening the wheel and reaches $ 206. The informal at the same level than the first business day of January.

The blue dollar takes a separate path from other rising dollars, although behind the evolution of inflation.

The peak of the blue dollar is $ 223 four months ago, on January 27 of this year. From there it retreated as signs that the Monetary Fund agreement was on track were confirmed. Informal fell to $ 195 on April 11, pulled down by optimism prevailing in the market weeks after the Fund agreement became official.

From there the blue climbed again to hold $ 212 last month. Since then it has been moving between $ 200 and $ 210.

So far this year, the official exchange rate has risen sharply with an increase of 15%, almost half of the accumulated inflation in the first five months of the year, which approximately 29%.

Now the wholesale dollar is sold on $ 119.57 and shows an increase of 3.8% on the month. so, the exchange gap reached 71.5%.

Behind is the MEP dollar, which trades on the Buenos Aires stock market, which rose 7% on the year and reached $ 211.55. Liquid cash, which allows foreign currency to be withdrawn from the country, is listed on $ 213.3, increased by 5.5% in five months.

The recession of the blue and the suppression of alternative dollars is happening amid the strong inflow of foreign currency by exporters. In the first quarter agriculture contributed US $ 11,000 millionwhich increases supply, although not enough for the Central Bank to accumulate reserves at the level it planned.

So far this year, Central’s purchases are close $ 1 billion. yesterday had to sell $ 50 million to assist the increase in demand due to the increase in fuel imports.

“The exchange rate will begin to be targeted“, says consulting firm LCG.” The dollar price has not been updated in such a way as to compensate for inflation each season and thus the economy is experiencing appreciation contrary to the purpose of the reserve. On the other hand, inflation expectations are accelerating and the interest rate is also falling behind. “

The risk in the country is rising

The country’s risk, the JP Morgan indicator that measures Argentina’s excessive debt value, rose 0.2% on this wheel in 1929 base points.

Bonds in Argentina show mixed results, with increases and decreases of approximately 1%. So far this year, dollar public securities are showing a fall of between 13 and 20%.

In the stock market, Merval rising 0.3% and Wall Street -listed Argentine shares typically move higher, with increases of up to 3.4% for Globant. Only two ADRs returned: Ternium (-0.4%) and Transportadoras Gas del Sur (-0.1%).

So far this year, the best moving stock has been Tenaris, up 65%. while the most affected was the Mercado Libre, with a decrease of 40.5%.

AQ