The blue dollar has stopped falling, but the financial dollar has risen

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The blue dollar has stopped falling, but the financial dollar has risen

The blue dollar at $ 196. Photo: Xinhua/Martín Zabala.

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The blue dollar has stopped falling as it has dragged on in recent days. On Thursday it had a slight rise of one peso which caused it to be listed on $ 197but after noon it recovered and returned to $ 196. It remained at this level for three rounds, with a gap of 75% with respect to the wholesale dollar.

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The upward trend was present in financial dollars, which rose between 0.2% and 0.8%. The MEP was sold to $ 190.9 and the counted in liqui, in $ 191.

In these amounts the blue can be found just three pesos from the savings dollar, which amounts to $ 193. In the calm of the market, prices of different types of dollars have combined in a range from $ 191 for cash to $ 196 for blue.

The fact that all the prices are so close together speaks to the fact that there is not much space left for them to continue falling.

So it stretches exchange pax which has dominated the market since the beginning of March, although the price of alternative dollars seems to have found a floor. Analysts have warned that there is little space for the informal sector to continue to decline and the exchange rate gap will be further reduced.

The gap is on the floor for several reasons: an agreement with the IMF, a few more rate points and the beginning of the high season for the liquidation of the dollar. In my opinion, none of the three factors can be substantial. I see parallels rising in the coming months and the gap will return to higher levels “, says Matías Surt, from consulting firm Invecq.

Surt’s skepticism is based on the idea that “the funding agreement is violated pretty close (fiscal numbers are wrong in the first data we have) and may need more monetary assistance.

Added to this is the “with record prices for agriculture the Central Bank cannot buy. It will certainly do so during April-July, but in a smaller quantity compared to last year and than expected by international prices, ”Surt affirmed.

bonds are declining

On this wheel, the bonuses return around 1%. Despite this, the country’s risk started and dropped 0.7% to 1726 basis points.

Merval opened lower, but reversed the fall and finished 0.6%. Almost all of Argentina’s stocks listed in New York moved higher, led by Corporación América along with a gain of 23.7%.

In this way the bonds connect third consecutive fall this week amid continued distrust of investors who, despite the Monetary Fund agreement, still see the risk that the country will end up failing to deliver on promises and that the future of Argentina’s papers has been compromised.

“Local stocks are showing an upward trend since the end of January and this can be seen in a Merval index measured in dollars trying to reach 500 points,” said analyst Javier Rava.

In recent days, the stock market has added a few days of relative moderation according to its classic volatility, despite the fact that it is now once again experiencing more concern with assets equivalent to market benchmarks. , “he pointed out.

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Source: Clarin

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