The blue dollar falls.
After the jump of seven pesos in the last few days, on Thursday the blue dollar opened lower: it yields two pesos and falls to $ 237. While the informal pauses, the financial dollars maintain the upward trend and the one counted with liqui reaches $ 252.
The major restrictions the government has ordered to curb imports and prevent dollar bleeding have skyrocketed alternative dollar prices so far this week.
Uncertainty about economic performance coupled with rising inflation and rising energy imports have increased demand for dollars, which has led the government to tighten the exchange rate. The consequence was that some of the demand was channeled into alternative dollars, causing prices to jump.
The blue dollar was up 12% in the month and the same percentage in the year. This leads to the exchange rate gap against the wholesale dollar, which is now trading at $ 125.2to 90%.
The MEP dollar, listed on the Buenos Aires stock exchange, increased by 0.6%, $ 248.7, while liquidity with liquidity or CCL, that used by companies, has advanced by 0.5%, a $ 252. Here the gap with the officer already reaches 100%.
So far this month, alternative dollars have risen sharply. The MEP and the CCL grew by 19%, while in the year they increased by 25%.
For its part, the official exchange rate increased by 4% in the month and by 20% in the year.
In any case, dollars lose the inflation race which is about to close the first half with an increase of around 34%.
With the new measures, the Central Bank managed to reverse the negative trend and start accumulating foreign currency: yesterday it bought 583 million dollars and adds nearly $ 1,000 million this week, following restrictions that leave most importers out of business.
Lower country risk
In this round, country risk also takes a break in the opening, which returns 3.5% and stands at 2374 basis points. On Tuesday, the JP Morgan indicator that measures the premium paid by Argentine debt had exceeded 2,500 points.
In the year country risk rose by 40%in a spiral that reflects the debacle of the Argentine bond that drag a drop of 34% over the year. In this wheel they got off to a bad start with losses of around 1.5%.
Merval started the wheel with a loss of 0.9% e Argentine newspapers sink in New York. All ADRs are listed in red with losses of up to 8% for Edenor and 5.7% for Mercado Libre.
In addition to the Argentine risk, this time ADRs fell driven by the bad day that Wall Street is experiencing after the publication of inflation data in the United States, which it remained at 6.3% yoy as in the previous month.
The Dow Jones Index fell 1.71%, the Nasdaq fell 2.85%, and the expanded S&P 500 Index lost 1.95%.
AQ
Annabella Quiroga
Source: Clarin
