Despite the rumors, the blue dollar fell and the Central Bank extended its buying streak

Although the currency market started the week in tension, following the various rumors circulating on the alternatives that Sergio Massa’s economic team is evaluating to reverse the weakness of international reserves and improve the currency front, this Monday the Central Bank succeeded. buy foreign currency again.

The agency closed the first round of the week with purchases for $ 11 million, with which he managed to reduce the strong red accumulated in the first part of the month to 529 million dollars.

Meanwhile, the feeling of calm continued in the parallel market: the blue dollar closed unchanged at $ 292 and both the liquidated cash dollar and the MEP dollar experienced declines: the CCL closed around $ 290, while the equity dollar closed near $ 283.12.

In the fifth week of Sergio Massa at the helm of the Ministry of Economy, alternative exchange rates consolidate their decline: eThe ticket costs 10% less that before that moment, while the CCL falls by 13% and the MEP, or stock exchange, does so by almost 13%, compared to the values ​​they held on July 27 last.

However, on the foreign exchange front the tension persists and before starting his trip to the United States, the Deputy Minister of Economy, Gabriel Rubinstein, had to go deny an imminent devaluation, after cross-rumors that strengthened over the weekend.

Adcap Grupo Financiero analysts state: “The level of BCRA reserves still under a lot of pressure and we are in a regime of high inflation, and this time inflation increases without devaluation. In short, since Sergio Massa’s arrival at the Ministry of Economy and with the incorporation of Gabriel Rubinstein as Deputy Minister, we see that there are lukewarm but positive changes “.

In the financial sector, rumors undermined dollar bond prices, which had come from a certain recovery in previous rounds. Debt securities have recorded declines of up to 2.2%, but still maintain improvements over the past five rounds.

In contrast, Argentine stocks listed on Wall Street they managed to finish the day with the most raises, with YPF in the lead, gaining 6.7% and amassing a dollar return of over 58% in August. “With the increase in energy demand due to the macroeconomic context of scarcity, Argentine companies linked to the sector continue to lead the recovery in prices,” said Fernando Staropoli, of Rava.

This supported Merval, which returned to close in positive territory, with a rise of 1.7%.