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For the second consecutive round, the blue dollar retreats and approaches financial exchange rates. After an entire week trending upwards, since Wednesday analysts have pointed to the presence of the Central Bank (BCRA) in the MEP and cash settlement markets (CCL), to try to smooth out the increases in free quotes.
In the last round of the week, the blue dollar sells for $1150 in the caves and trees that operate in the City Buenos Aires, a drop of $25 compared to the previous close (-2.1%). In this way, it erases part of the upward trend that it registered since last Thursday, although it is still $80 higher (+7.5%).
“This increase in free exchange rates, although relevant, did not surprise analysts. December is a month seasonally characterized by an increase in the demand for pesos due to bonus payments, Christmas celebrations and vacations, which generates a greater circulation of money in the economy in the second fortnight. However, we hope that this upward effect will be temporary,” said Yanina Skiba, chief economist at MM Investments, who also added that the drop in interest rates may have contributed to the rise.
On the other hand, financial exchange rates operate unevenly. On the one hand, the dollar MEP It advances $14.9 and is trading at $1146.07 (+1.3%). While the cash with settlement appears on capital market screens at $1,153.94, about $7.3 less than yesterday (-0.6%).
“Yesterday the volume operated in AL30 and GD30 in CCL and MEP t+1 remained at atypical levels. After US$277 million in surgery on Wednesday (record volume for the year), This Thursday US$159 million were operated. Both figures contrast markedly with the December average of US$60 million and US$61 million since October, excluding the volume of the last two days. Without monetary data yet to confirm itThese volumes suggest that there was an official presence.”said the analysts at Portfolio Personal de Inversiones (PPI).
The official wholesale exchange rate is stable at $1023. For a year and a week now, the Central Bank has been controllingly devaluing 2% monthly, with the aim of reducing it to 1% monthly if the inflationary slowdown continues. Compared to the blue, the exchange gap is 12.4%; with the CCL it is 12.8%; and with the MEP, 11.6%.
The bonuses debt sovereigns start the wheel negatively, in a context of international volatility. The Bonares fall to 1.71% (AL41D) and the Globals, to 0.87% (GD30D). This directly impacts the country risk, indicator that advances eight units and stands at 674 basis points (+1.21%), one of the lowest values since February 2019.
Argentine shares listed on the New York Stock Exchange (ADR) are dyed green. The papers of BBVA stand out with a rise of 2.9%, followed by Supervielle Bank (+2.8%), Free market (+1.9%), irsa (+1.6%) and Galicia Financial Group (+1.6%).
