2023-08-14 15:56:58
The Central Bank today bought US$220 million in the single free exchange market (MULC), on a day in which the agricultural dollar contributed settlements for US$309 million.
The balance of the day of the monetary authority occurred within the framework of the measures implemented by the Ministry of Economy to strengthen the reserves, which increased from $300 to $340 the differential exchange rate for exports from regional economies until August 31.
“The agricultural dollar today contributed $309 million,” said Gustavo Quintana, an analyst at PR Corredores de Cambio.
As relevant data of the day, the Central Bank ordered as of today a change in its policy of administration of the exchange rate, leaving aside the daily adjustments or “crawling peg” to apply a single devaluation of 21.6%, with which to set it at $350 per dollar unit, official sources reported.
In the monetary authority they estimate that, in recent weeks, there has been a growth in the profit margins of the price makers who created a kind of preventive “cushion” before the holding of the open, simultaneous and mandatory primaries (PASO) and which, consequently, are in a position to absorb this new price without there being a transfer to prices.
The measure does not imply any change in tax matters, since the tax on imports and those levied on the savings dollar and the card dollar remain unchanged, with no changes in this regard planned for the next few days.
As a result of these changes in exchange matters, market sources estimated that in the coming days there could be some modification in the program to increase exports of the agricultural dollar, given that the tax incentive for exporters brought the wholesale exchange rate to $340 , and now the wholesaler is set at approximately $350.
Regarding the exchange rate, the retail dollar closed at $366.17, with a rise of $66.17 compared to Friday, in line with the devaluation ordered by the monetary authority.
For its part, the so-called “blue” or informal dollar advanced 80 pesos, to $685 per unit. In San Juan, the paralera currency was negotiated at $720, with a great demand but with few operations.
Meanwhile, in the stock segment, the dollar cash with settlement (CCL) advances 8.5%, to $652.80; while the MEP rises 16.8%, to $630.66, in the final leg of the wheel.
In the wholesale market, the US currency ended up $62 compared to the previous close, at $349.95.
Meanwhile, the Solidarity Dollar and the Card Dollar -which have a 30% COUNTRY tax rate and 45% profit perception- stood at $640.80, while for purchases over $300 -which has an additional tax of 25%-, traded at $732.34.
The volume traded in the cash segment was US$535 million, in the futures sector of the Mercado Abierto Electrónico (MAE) operations were registered for US$140 million and in the Rofex futures market for US$1,298 million.
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