Saturday, December 4

“Free” CCL dollar falls as much as 3.3% and pierces $ 210 after the elections

In the “regulated” version, on the contrary, the stock market dollars registered advances: the CCL rose 2.2% to $ 188.19 and the MEP rose 1.6% to $ 187.51. The gaps with the official stand at 87.6% and 86.9%, respectively.

From the Abeceb consulting firm, “this context of extreme political uncertainty a few days before the legislative ones, and in an economy that drags macroeconomic imbalances of magnitude, is reflected in the foreign exchange / financial market: the blue dollar exceeds $ 200 (with free CCL dollars close to $ 220), a very high and unsustainable exchange gap above 100%, investors moving to dollar link funds to hedge against a possible devaluation jump, companies rapidly paying off their hard currency loans (-9.3% net loans fell from late September and -3.9% only in 5 days of November) “.

For Abeceb, “these numbers are not surprising: First, because the absence of a political anchor for expectations is compounded by the lack of a fiscal, monetary and exchange rate anchor (in a context in which it is expected that the Central will soon have to change the exchange rule that has been applying to devalue below inflation) “.

In the second place, he added, “because the electoral plan (silver plan in the pockets) and the fiscal seasonality typical of this time of year feed the exchange pressure: $ 500 billion have already been issued to fund the treasury from the STEP, the effective inflation and expected exceeds 50% per year and we accumulate a real appreciation of the peso of 15% so far this year “.

Official dollar

The Today the dollar rises four cents this Monday to $ 105.86 -without taxes-, according to the average of the main banks of the financial system, in a context of marked upward pressure for versions of the “unregulated” currency. In turn, the retail value of the US dollar remains at $ 105.25 at Banco Nación.

The savings dollar or solidarity dollar -which includes a 30% of the COUNTRY tax, and a 35% to Profit account- advances seven cents to $ 174.67.

The wholesale dollar rises nine cents to $ 100.31, under the strict regulation of the BCRA, after accumulating an advance of 28 cents last week.

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