The tourist dollar exceeded $ 100 for the first time; CCL and MEP set new records

The price of Banco Nación rose 25 cents to $ 77 while in the electronic channel it was achieved to $ 76.95.

In the Single Free Exchange Market (MULC), the currency advanced 18 cents to $ 72.95 in line with the Central Bank’s selling position, in a wheel that exhibited a buying trend as a result of an improvement in the flow of income from abroad.

Prices, however, were once again within the range of fluctuation established by official regulation and remained with little fluctuation throughout the entire conference.

The highs were noted at $ 72.95 with the first registered trades, 18 cents above the previous end. The genuine offer was very active from the start of the day and was filling the authorized purchase orders with fluidity. Unlike the previous sessions, this time the Central Bank had to intervene with purchases that absorbed all the surplus available in the market, even at times defending today’s minimum, registered at $ 72.74.

Private sources in the market estimated that the Central Bank raised some US $ 40 million as a result of its intervention; after having sold about $ 200 million last week.

“Today’s adjustment returned to 18 cents that, with the exception of last Monday, the Central Bank has applied in recent weeks to compensate for the days without operations. The path of corrections seems to resume the rhythm of the weeks prior to the previous one, when a slight acceleration in the adjustment rate was noticed, which will be seen if it is maintained in the current period, “said analyst Gustavo Quintana.

The economist Gustavo Ber, for his part, considered that “the wholesale dollar followed the rhythm validated by the BCRA, even when concerns about the negative balances of interventions are growing.”

The exchange swaps totaled a total of 25 million dollars, to take and / or place funds in pesos, through the use of buying and selling of dollars for tomorrow and next Wednesday.

Stock dollar

Stock exchange rates registered further increases this Monday and touched new historical records. Although the increase in the exchange rate gap can be perceived as worrisome, the Minister of Economy, Martín Guzmán, has already clarified that this behavior responds to a strategic issue regarding the debt swap under local law, which includes a bond pesification strategy in dollars.

He dollar CCL -which arises from the purchase and sale of bonds or shares on the stock market- rose 1.4% to $ 128.35, so the spread with the wholesale price closed at 75.9%.

With a similar strength, the MEP dollar, or Stock Market -similar operation to that of the CCL but within the country- gained 1% to $ 125.84, with which the gap with the officer stretched to 72.5%.

During the beginning of last week, the optimism of the operators was reflected in the strong contraction of the financial dollars, before a greater appetite for bonds and stocks as well as tactical bets on vehicles in pesos. However, between Wednesday and Friday, prices showed a recovery in a profit-taking framework in all Argentine asset segments. Today, the trend continued.

Blue Dollar

He The blue dollar fell by $ 2 this Monday to $ 131, according to a survey by Ámbito in caves in the downtown area of ​​Buenos Aires, after having recovered in the last three days more than half of the drop suffered last Tuesday in the face of the debt agreement with creditors.

That day, the bill collapsed $ 8 after the announcement of the agreement between the government and creditors for the restructuring of debt under foreign law. However, between Wednesday and Thursday the informal price rebounded $ 4, while it rose again on Friday.

Anyway, the blue registered its second consecutive week with accumulated fall. Between July 27 and 31, it recorded a decrease of $ 3 (it went from $ 139 to $ 136), the same negative variation that it showed in the first week of August (it fell from $ 136 to $ 133).

With these new numbers, the The gap with the wholesale dollar narrowed to 79.60%, after touching 95% at the end of July, and reaching a maximum of 104% in mid-May.

It should be remembered that, last July, banks had blocked bank accounts in dollars due to “unusual movements”, carried out by the “digital coleros”, who then used the informal market to carry out the “pure” (buy in the official and sell in the parallel taking advantage of the existing exchange gap).

Since the quarantine started, the blue accumulates an increase of $ 45.50 (from the $ 85.50 of March 20), product, among other causes, of greater restrictions, not only in the Single Free Exchange Market, but also for operations with the CCL dollar and the MEP.

Futures and Reserves

In the ROFEX futures market, only 160 million dollars were traded. The terms almost unchanged and slight drops. August ended with a rate of 32.40% and September at 38.75% NRT. End of the year at $ 85.67 with a TNA of 44.51%. Open contract positions totaled $ 4,518 million.

Lastly, affected by the BCRA sales, gross international reserves fell by US $ 84 million last week to US $ 43.303 million. This Friday, the entity led by Miguel Pesce lost $ 42 million.

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