2023-10-17 18:49:00
A short week begins in the city of Buenos Aires, not exempt from volatility given the imminent arrival of the presidential elections next Sunday.
Although the Governmentor quickened the pace with some measures to control financial dollars, in addition to maintaining strict monitoring between the “little trees” and “caves” that sell blue, The market started this Tuesday with the currency at last Thursday’s closing levels, above 980 pesos. After some operations it lost some strength, and in the midst of raids in the city of Buenos Aires, it dropped to $970.
The CCL closed on Thursday at $966,96 and the Government seeks at any price do not exceed the psychological barrier of $1,000. Meanwhile, the MEP opens the wheel to $870,46.
What will happen to the dollar after Sunday’s elections? That is the great mystery of the majority of Argentines.even some analysts have expressed that marketor is already expecting a devaluation after passing through the polls.
When will the new Rental Law come into effect?
For now, the Government committed to maintaining the wholesale exchange rate at $350 until the electionswith which during this week, the official dollar will continue trading at $365.50while the wholesaler will do it for $350.
Regarding the dollar for card consumption, This Tuesday, October 17, it has a value of $731.
New measures to control financial dollars
This morning, it was published in the Official bulletin a new measure to tighten the tourniquet more on financial dollars. In this way, a new limit on the purchase and sale operations of Argentine certificates of deposit.
As the decision was justified by National Securities Commission (CNV)“in the current prevailing economic context and within the framework of the recent evolution of the exchange market, it becomes necessary to reduce the volatility of financial variables and contain the impact of oscillations in financial flows on the normal functioning of the real economy, as well as the impact of the operations implemented in the capital market through the simultaneous purchase and sale of negotiable securities.”
1.5 million tourists traveled over the long weekend and spent more than last year
Elena Alonso, economist at the Broda groupexplained to PERFIL that although this measure It does not affect retail investors but rather registered stockbrokers with their own portfolio, ““It is a bit in tune with the restriction on banks imposed over the long weekend.” “All this is to avoid strong volatility and maintain the exchange rate until the elections,” he added.
It is worth remembering that just a few days ago the Government It also limited operations with financial dollars for large local and foreign investors. On that occasion it was officially explained that this provision is of a “transitional” nature and seeks “improve the regulation of the capital market and prevent money laundering and tax evasion maneuvers” a few days before the presidential elections.
Furthermore, the Government is following the clues to catch whoever they consider “the King of the Caves”, pointed out by Sergio Massa as one of those responsible for the dollar’s rise last week. That is why, this Tuesday, new raids are carried out related to informal currency.
News in development…
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