Business Dollar: BCRA adjusted daily rise for the wholesaler while...

Dollar: BCRA adjusted daily rise for the wholesaler while regional currencies devalued up to 4%

While in Argentina, the dollar rose just 0.07%, in Mexico it rose 4.3%, in Chile 2%, in Colombia 2.7% and in Peru 1%, while in Brazil the markets remained closed the Thursday due to a local religious holiday.

“The sudden change in the daily regulation strategy arranged by the Central Bank, reducing the adjustment to six cents, altered the expectations of economic agents who lost the predictability that the rate of rise in the wholesale exchange rate gave until Wednesday,” he said. the analyst Gustavo Quintana.

Ecolatina economist Martín Rajerman, coincidentally, emphasized “the day came: after 28 days where the peso depreciated 9 cents a day against the dollar, today it depreciated only 5. Heading for a new fixed value?”.

Central Bank sources, in this regard, confirmed to Ambit than the monetary authority bought another u $ s104 million, with which it accumulated u $ s314 million in the week and almost u $ s900 million since the last regulations that came into effect for access to the exchange market at the end of last month.

It should be remembered that yesterday, according to what was officially reported on Wednesday, gross international reserves climbed $ 52 million and closed the day above $ 43 billion, at $ 43,041 million.

Quintana pointed out that “the slowdown in the wholesale correction arranged for today by the Central Bank resulted in an increase in the flow of income that led to another good harvest of foreign exchange for the monetary authority“said analyst Gustavo Quintana.

Prices in the futures markets reacted in tune with the cash segment, especially in the most immediate terms, accommodating their expectations to a softer devaluation than the one predicted by market analysts.

For Quintana, “the reduction of today’s adjustment induces to wait for the development of the next few days to confirm if the change in price regulation remains at the current level, or if on the contrary we will enter a stage of less predictability in the pace of dollar adjustment. “

The North American currency operated without pressure in the wholesale segment and with a very small fluctuation throughout the course of the day. Prices moved within the range of variation proposed by the monetary authority but without exceeding the limits imposed by it.

The maximums, recorded in the $ 69.32 coincided as always with the sale value set by the Central Bank for today, six cents above the one set for the previous day. The weak demand and the marked flow of income verified in the last leg of the day allowed the monetary authority to rise again with an interesting amount of foreign currency, while defending the lows with purchases of $ 69.31, which They kept until the end of the wheel.

Meanwhile, in the retail market, the tourist dollar -with a 30% surcharge for the COUNTRY tax- rose 19 cents this Thursday to $ 94.04, since the average price of the retail ticket in banks (without the tax) advanced 15 cents to $ 72.34, according to average Ambit in banks and financial entities of the Buenos Aires city.

In this way, the so-called solidarity dollar accumulates a jump of $ 1.84 in just six days,

Meanwhile, the dollar at Banco Nación closed without variations at $ 71.50, while on the electronic channel it operated at $ 71.45.

Dollar CCL and MEP

The CCL Dollar -that arises from the sale of bonds or stocks in order to make dollars and deposit them outside the country- decreased 1.9% to $ 112.27Therefore, the gap with the official wholesale price was reduced to 62%.

Conditioned by the strict controls of the Central Bank and the National Securities Commission, the dollar “counted with liqui” registered again its biggest drop in two weeks.

In the same way, the dollar MEP or Bag -Same operation as the CCL but within Argentina- decreased 0.5% to $ 107.49, which left a spread of 55.1% against the currency that operates in the MULC.

Meanwhile, the market closely follows the pulse that exists between the strong monetary issue and the situation of greater demand for money due to the pandemic.

Economist Gustavo Ber indicated that “beyond the external risk-off and domestic noises, the gaps continue to respond calmly, even when operators recognize that the strong monetary issue – fueled by the fiscal deficit – is a growing risk since it will require the organism to accelerate the dynamics of sterilization, especially in the post pandemic. “

Fees

The Central Bank (BCRA) placed on Thursday Liquidity Letters (‘Leliq’) with a 27-day term with a stable rate of 38%operators said.

The monetary entity placed through a tender 139,793 million pesos (about 2,016.6 million dollars), with a contraction of 2,332 million, they added.

Dolar blue

In the informal segment, the blue dollar yielded $ 1 to $ 123 for sale, according to a survey by Ámbito en cuevas del Microcentro, so it loses 1.6% so far in June.

Beyond that since the beginning of the mandatory quarantine decreed by the Government, the parallel ticket accumulated a jump of $ 38.50 (on March 20 it had closed at $ 85.50), so far in the sixth month of the year the price has showed greater stability, operating in a range of $ 128 and $ 124.

In turn, the gap between the informal dollar and the official wholesale dollar was kept by the third wheel below 80% (77.4%).

Futures

In the ROFEX futures market, US $ 396 million were traded. The deadlines were practically unchanged. June was operated at a rate of 31.60% and July at 35.70% TNA. Year-end closed at $ 89.10 (51.34% TNA). The open positions add up to a total of $ 3.73 billion.

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