The blue dollar goes up.
The blue dollar rises two pesos this Wednesday and is trading at $ 208. With this it recovers the level of two weeks ago and brings the exchange gap with the wholesale dollar to 72%.
Blue has risen by just two pesos, 0.5%, in June so far. As the informal advances, alternative dollars show slight declines. In this way, prices take off from the rise in inflation, which was 29% until May and is already starting to close at 5% in June.
The MEP dollar, which is listed on the Buenos Aires stock exchange, yields 0.5%, a $ 207.6. During the month, the MEP remained stable and rose by 5% in the year.
The dollar counted with cash or CCL, which allows the withdrawal of foreign currency from the country through transactions with bonds and stocks, falls by 0.9%, to $ 208.3. Although it fell 1.1% in the month, it increased 3.3% in the year.
For its part, the wholesale dollar is sold to $ 121.5, an advance of 1% in the month and 17% in the year. The savings dollar is trading at $ 209.5 in the average bank, making it the most expensive of the retail dollars available.
In the months of higher foreign exchange supply due to the liquidation of the rent, the dollar remained stable. Even so, the Central Bank continues to have difficulty making reserves. So far in June he has only bought $ 15 million.
“Payments for energy and fuel imports continue to weigh on the exchange rate equation, reducing the BCRA’s ability to accumulate reserves on a sustained basis, ”said operator Gustavo Quintana.
The country risk increases
Country risk, the JP Morgan indicator that measures the excess rate that Argentine debt must pay with respect to US Treasuries, rises by 0.6% and reaches 1943 basis points.
So far this year, the indicator reflecting the performance of Argentine bonds has risen by 14.5%, in line with the market’s distrust of the direction of the economy.
This Wednesday, the main Argentine government bonds listed abroad opened lower, with losses of around 1%. So far in 2022, bonds have fallen as much as 23%.
Negative day also for Merval, with drops of 0.8% and a red of 2.3% in the month, even if in the year it rises by 6.4%.
Argentine ADRs listed in New York are mixed. The greatest increase corresponds to Telecom with 1.5% and the most marked decrease is for Cresud, with 3.2%.
Wall Street leading indicators fell Wednesday and the stock remained somewhat unstable as investors try to gauge the impact of rising interest rates and inflation on the economy.
The stocks of banks and industrial companies have been among the biggest influencers in the broader market. Wells Fargo was down 1.7% and Union Pacific down 2.7%. Tech stocks also lost ground. Intel lost 4.3%.
By 12:20 PM ET, the S&P 500 was down 0.2%. The industry average of the Dow Jones fell 0.1% and the Nasdaq was up only 0.1%.
The yield on 10-year treasury bills, which banks use to fix rates on mortgages and other loans, rose to 3.0% from 2.97% on Tuesday.
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Source: Clarin
