The free dollar cut six pesos in its sale price, to $217, one day after scoring a nominal all-time high.
The price of the US dollar on the informal market hit a new high on Tuesday, a rise linked to investors’ distrust of the Argentine peso and assets denominated in the local currency.
US currency it had risen yesterday 8 pesos on the parallel market, up to a new maximum of 224 pesosto overcome the previous mark of 222.50 pesos that had been registered last January.
Meanwhile, in a session with USD 269.6 million in the cash segment (spot), the dollar wholesaler earned 20 cents, at $122.70with an exchange gap of 76.9% with respect to the “blue” dollar.
“Today the BCRA assisted with USD 140 million to the market. It is the equivalent of the demand that there was today for energy payment”indicated to Infobae a fountain in the exchange square.
“The payment of energy and fuel imports forced BCRA sales,” he summarized Gustavo Quintana, agent of PR Corredores de Cambio. “The demand for foreign currency to meet payments abroad again exceeded supply private, demanding important official interventions”, he added.
The analysts who participated in the survey of Latin Focus corresponding to the month of June they forecast a wholesale dollar at $158.50 by the end of December, in this case, $1.60 more than in the last survey, which placed the official exchange rate at 156.9 pesos. We must remember that the wholesale dollar is close to $123, which means that it should rise by almost 29 percent by the end of the year.
Meanwhile, dollars traded through stock assets stabilized, to be traded at $238.32 in the “cash with liquidation” through the Global 30 bond (GD30C), and $231 in the MEP dollar with the Bonar 30 (AL30D).
Financial experts relate the increased demand for dollars to the strong sales registered in recent weeks of public debt securities denominated in pesostriggered by a growing mistrust in the progress of the local economy -marked by high inflation, the shortage of foreign exchange and financing problems, among other factors- and the ups and downs in international markets.
“During the past week, these assets had a historic drop in their price, thus cutting the gains of recent months and generating doubts about the future of the national debt in pesos,” he observed. Maximiliano DonzelliHead of Research at the firm IOL Inversiónronline.
The exit of these securities from investment portfolios would have moved investors to allocate the resources obtained from these sales to the Dollar purchaseparticularly those obtained through more sophisticated financial channels.
The rising prices of the so-called “financial dollars” have, in turn, put pressure on trading values in the informal market. In addition, the expectations of higher inflation in Argentina – between 70 and 80% per year by 2022, according to private forecasts – encourage purchases of dollars for coverage.
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