2023-10-03 16:40:22
Wholesale dollar
Sale$350,01
Euro
Purchase$368,52Sale$388,72
Three weeks before the presidential elections, portfolio dollarization was once again present in the exchange market. Furthermore, with a greater amount of pesos circulating through Argentine streets and inflation that registers double-digit monthly advances, free dollars are consolidated as a hedge currency in the face of political-economic uncertainty and the increase in demand leads them to mark new records in nominal terms.
This Tuesday, Florida Street is once again at the center of the scene. The blue dollar sells for $803, an increase of $3 compared to the previous close (+0.4%). In this way, this price reaches the highest nominal value on record, leaving behind the $800 it marked last Friday.
“With a more expansive fiscal plan that requires greater issuance of pesos until the end of the year, and a candidate who advocates the dollarization of the economy, Uncertainty grew significantly in the last week, driving demand for hedging assets. All local financial assets recorded a negative performance and the exchange rate gap once again exceeded 130%,” said Martín Polo, chief strategist at Cohen Investment.
However, by taking perspective and observing the value of Dolar blue in real terms, The current price is still below other recent peaks. For example, due to the strong inflation that occurred in the last month, the $780 that it marked a month and a half ago would be equivalent to $931 today, according to estimates by financial analyst Salvador Vitelli. Compared to October 2020, when the parallel touched $195, it would be about $1,087 today.
The blue dollar sells for $803Shutterstock
The upward trend is also recorded among financial exchange rates. He dollar counted with settlement (CCL) “free” appears on capital market screens at $836.68, a daily increase of $7 (+0.8%).
He dollar MEP traded at $729.62 in the early hours of the day. It means a jump of $20 compared to the previous close (+2.8%), although the trend usually reverses in the last hour of operations, when the Central Bank (BCRA) intervenes in the bond market to put a stop to the rise.
News in development.
THE NATION
Conocé The Trust Project
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