Tuesday, February 27

Dollar CCL closed almost $ 10 above the MEP, maximum gap in 12 days

On the contrary, the MEP dollar fell 1.7% to $ 194.41, bringing the spread with the wholesale dollar to 89.7%.

Investors’ eyes are focused on the slow negotiations with the International Monetary Fund (IMF), taking into account that an agreement could bring calm about the gaps and reserves, taking into account that in 2022 Argentina must pay almost US $ 20,000 million for the debt contracted in 2018.

Last week the country paid about US $ 1,900 million in capital, so the net reserves of the Central Bank (BCRA) were approximately US $ 2,500 million.

Roberto Geretto of Fundcorp, stated that the resources “are insufficient to face the payments that Argentina must make in the first months of 2022, especially with the IMF.” “Hence the need for an agreement before March“, he said.

“The Net international reserves will return to near end-2020 lows by year-end, despite the commented positive current account balance, the persistence (and tightening) of exchange restrictions and the extraordinary income of SDR (Special Drawing Rights of the IMF for some 4.3 billion dollars) in September, “said the consulting firm Ecolatina.

Official dollar

The Today the dollar rose 33 cents this Monday to $ 108.10 -without taxes-, according to the average in the main banks of the financial system. In turn, the retail value of the currency in the National Bank advanced 25 cents to $107,50.

The Central Bank (BCRA) chained its tenth consecutive day without foreign currency sales, buying $ 25 million net on the first wheel after Christmas.

In this way, the authority achieved purchases for about US $ 65 million in the last 10 wheels, a meager amount but that contrasts with the losses suffered since the beginning of the month (US $ 330 million).

“The perceptible improvement in the income level of the agro-export sector allows the monetary authority to continue exhibiting positive balances due to its daily intervention, even in a context of low activity level,” said analyst Gustavo Quintana. And he added: “the red of the month continues to decrease and moves away from the strong sales made last month, always in a scenario where the activity of the cereal complex has a decisive influence to moderate the losses of reserves of the Central Bank.”

In a scenario of low activity level, the currency again operated with a declining trend and with prices exhibiting a journey from high to low. The official activity, as always, limited the fluctuation of the values ​​based on the parameters defined for today.

The highs were noted at the start at $ 102.58, 28 cents above the previous end. Revenues from abroad were accentuated during the development of operations, forcing successive drops in the price until reaching a minimum of $ 102.53, a value that was defended and partially corrected by the purchases of the Central Bank.

The saving dollar or solidarity dollar -which includes 30% of the COUNTRY tax, and a 35% on account of the Income Tax- it was up 20 cents to $ 177.94, after dropping eight cents on Thursday.

The blue dollar fell 50 cents to $ 203.50, according to a survey of Scope in the Black Market of Foreign Currency. Therefore, the gap with the officer dropped to 98.3%.

It should be remembered that the informal reached its highest nominal value last Thursday since November 11, and that during the day it reached an intraday peak of $ 204.50.

With this strong advance, the parallel dollar accumulated over the past short week a rise of $ 4.50, the most important since the end of October.