2023-08-03 19:00:00
The first reaction of the exchange market to the latest government measures caused a new jump in the dollar in all its versions with the “blue” leading the trend by hitting a new nominal high of $577.
Meanwhile, the MEP advances to $519.15 and the Cash with Liquidation rises to $ 578.01.
Meanwhile, the Central Bank ordered a first devaluation of the official price of 0.20% to $290.84 (a new adjustment is expected shortly).
Yesterday the National Securities Commission (CNV) issued a resolution by which it tried to limit the arbitration by term of the bonds that are traded on the Stock Exchange and set the prices of the MEP and Cash with Liquidation.
through the general resolution 969 The body prohibited the purchase of sovereign bonds (both Bonares and Globals) in CI (immediate cash) or in liquidation in 24 hours, if they were previously sold within 48 hours.
- 377
- It is the price of the blue dollar this Thursday, August 3.
The resolution establishes that the agents may process orders to arrange purchase operations of sovereign bonds denominated and payable in dollars with settlement in foreign currency only if during the previous fifteen (15) calendar days the client did not carry out bond sale operations.
The CNV He assured that in this way “the regulation was perfected in order to guarantee that the volume of negotiation in sovereign bonds in dollars is genuine, eliminating the influence of arbitration and ensuring a more faithful representation of real asset transactions.”
The entity considered that a limitation is added to the operation in financial dollars in different terms which is “something only sophisticated investors use trying to get a return with low risk.”
From now on, “in order to buy a bond denominated in dollars with settlement in foreign currency, in a settlement period of less than 48 hours, the investor must not have sold in the previous 15 days (and undertakes not to do so in the subsequent 15 days) sovereign bonds denominated in dollars with settlement in foreign currency.
“The objective of the new measure is to soften the intervention of the BCRA or at least cut its pace from the last two sessions (US$55.1 million on average),” said the PPI Financial consultancy.
He added that “the BCRA is trying to mitigate the allocation of dollars, but not the exchange intervention, which would mean a risk for the legislation spread between GD30/AL30 (if the sale of bonds against pesos persists). Yesterday, this differential ended just above Tuesday’s close, at 21.75%.”
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