Las tensions presented by the Argentine macroeconomy are reflected in the exchange market. Yesterday, the Government announced a new chapter of the “Paid Plan”, with the delivery of a bonus for informal workers, measures that increase the tax red of the State and that flood the streets with pesos. Along with double-digit inflation and the proximity of the October elections, free exchange rates once again became more in demand and quotes skyrocketed to $15.
This Wednesday, the blue dollar sold for $773 in the caves and trees of the City Buenos Aires It was a jump of $15 compared to the previous close (1.9%) and $28 so far this week (3.7%). In this way, it was only $7 away from $780, the highest nominal price on record (last August).
“These latest movements reflect the increased demand for dollars due to greater political uncertainty and the creation of coverage for the October 22 elections,” said Fernando Marull, economist at FMyA.
Meanwhile, the dollar counted with settlement (CCL) “free” registered a daily increase of $14 and stood at $789.68 (+1.8%). In September, this price went through a period of pax exchange rate, due to the greater supply of dollars brought by the new edition of the soy dollar 4. However, tensions returned to the square in recent days, given the imminent end of the export increase program this Friday.
This Friday the “agro dollar” ends and is replaced by the “Vaca Muerta dollar”Shutterstock
In this scenario, yesterday the Ministry of Economy decided to announce a “Vaca Muerta dollar” for exports of the hydrocarbon complex. Until October 25, 25% of sales made abroad may be settled at the financial exchange rate, while the remaining 75% must be channeled to the official dollar (fixed since August 14 at $350).
“The Government’s intention is to ‘shield itself’ against a new run in the CCL in the run-up to the elections. However, we believe that the CCL trend will continue to be bullish given the high nominal value of the economy and the great electoral uncertainty. Today the CCl closed at the highest level since the end of August, driven by the demand for coverage and the end of the soybean dollar this Friday,” considered the Delphos Investment brokerage company.
Even so, the value of cash with liqui is far from other recent peaks. For example, If the $800 that the CCL marked after the PASO is adjusted for inflation, it would be equivalent to $880 today. On the other hand, compared to the crisis of July 2022, when Martín Guzmán resigned from the Ministry of Economy, it would be about $866 today. If the $195 of October 2020 is repeated, the dollar should rise to $958, according to estimates from the Personal Investment Portfolio (PPI).
The BCRA allocates US$30 million daily to contain the MEP, according to market estimates TWITTER / MARIANAKBOOM – TWITTER / MARIANAKBOOM
He dollar MEP requires separate mention, since it is governed by a different dynamic. Although during the first negotiations of the day it reached over $700, it finally closed the day at $689,85. It was an increase of $4 (+0.6%). This change in trend was due to the interventions carried out by the Central Bank (BCRA) in the last hour of operations, through the bond market, to put a stop to the rise.
Today, the Buenos Aires stock market rebounded 2.5%, although when observing the route it took throughout September, it accumulated a red of 14.8%. Thus, the S&P Merval is positioned at 567,023 units, which when adjusted for cash with liquid is about 705 points.
In the main panel, this wheel was led by the actions of YPF (+6,6%), Loma Negra (+5,6%), Transene (+4,8%), Pampa Energy (+4,2%) y Northern Gas Carrier (+4,1%).
Argentine shares listed on the New York Stock Exchange (ADR) registered disparate variations. This Wednesday stood out Loma Negrawith an increase of 3.2%, followed by Tenaris (+3,2%) y America Corporation (+2.8%). On the other hand, Globant (-1.4%), Despegar (-1.4%) and Mercado Libre (-1%) fell.
Los bonuses of the last debt exchange operated, for the most part, in positive territory. Abroad, the Bonares presented timid increases of 0.32% (AL29D), while the Globales reached increases of up to 5.62% (GD46D). He risk country It advanced 14 units and stood at 2,399 basis points, the highest value since the beginning of June.
Conocé The Trust Project
#blue #jumped #reached