Thursday, December 8

The savings dollar closed $ 30 below the blue, the largest difference in almost 2 months


The increase in this gap is the product of the skyrocketing of the blue in the last 5 days, in which it accumulated an advance of $ 10, after a mild first half of December due to a greater demand for money.

But the situation was clearly reversed in the second part of the month, in which the greater liquidity of pesos, due to the collection of bonuses, together with the growing demand related to vacations abroad, without ignoring the impact of high inflation and upward expectations around key prices in the economy, led the blue to play its highest historical nominal value on Wednesday.

For its part, financial dollars bounce to more than $ 2 after several days of decline (due to the effect of the Personal Assets tax), in the context of financial uncertainty regarding the progress of the country’s negotiations with the International Monetary Fund (IMF) for a large debt.

The CCL dollar -Traded with the Bonar 2030, the most liquid bonds in the financial market- bounced $ 1.03 to $ 203.44, with what the The gap with the official exchange rate regulated by the BCRA was above 98%.

The MEP dollar or Stock Exchange, meanwhile, it increased by $ 2.69 to $ 196.03, bringing the spread with the wholesale dollar to 90.9%.

“From the fundamentals side, everything remains the same, with little news of progress in the agreement with the IMF, although there are some signs of internal work on specific demands of the global monetary entity, such as increases in public rates”, commented an operator.

Energas called a public hearing to discuss natural gas rates on January 19, and it is assumed that something similar will happen soon with respect to some of the components of the electricity rate.

Meanwhile, the Minister of Economy, Martin Guzman, admitted that only “it is necessary to obtain all the international consensus that is necessary to be able to have an agreement between both parties (Government-IMF)”, in an interview with the newspaper El País in Spain.

Added that “The Argentine government is fully interested in closing an agreement as quickly as possible based on an economic policy scheme that will allow the country to continue on the path of recovery and reducing inflation.”

Official market

The Central Bank (BCRA) ended its buying streak this Wednesday and It sold US $ 45 million to meet the demand of importers, awaiting the more robust arrival of foreign exchange from the fine harvest.

The monetary authority had accumulated a buying balance of about $ 70 million in the last 11 wheels. The negative balance for December is just over the u $ s320 million and it remains the lowest monthly balance of the year.

In this framework, the wholesale dollar, for its part, went up six cents to $ 102.68, in a round with a turnover within the weekly average.

The lows of the day were recorded at $ 102.67 shortly into the session. But the authorized demand, destined to meet foreign obligations, became somewhat more intense during the development of the wheel., promoting an advance in prices that in a staggered way reached to touch Highs at $ 102.73, at times of greatest buying pressure.

This is how the official intervention corrected the price level with sales, which gradually fell back to the closing value. The volume traded in the cash segment it amounted to $ 253.6 million.

“As was foreseeable and as it happens at each end of the month, the buying pressure stood out in the development of the operations of the penultimate round of the week, of the month and of the year, but without impacting the volume traded that remained within of the weekly average, “commented analyst Gustavo Quintana.



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