After an “extra large” weekend, the Argentine exchange market returned to operations after four days, although the pause and financial movements abroad did not take away from it. gradual upward trend that he already exhibited in previous weeks.
The formal dollar, in the wholesale plaza and on the blackboards of banks, persisted in the path of slight daily increases, to buffer any lag bias regarding domestic inflation.
In the interbank market, with the presence of the Central Bank to define the route of the ticket price, it rose 28 cents a day or 0.4%, at 64.05 pesos. In the course of 2020 it adds a rise of 6.5 percent.
To the public, averaged $ 85.81 for electronic sales in banks, with the application of the “solidarity” tax of 30 percent for individuals.
The drop in the pace of foreign trade business, due to the global slowdown in the exchange of goods, plus the operation stunted by quarantine in Argentina, which fell almost entirely in all segments, allows the local plaza cope with your activity without complications and a moderate uptrend for prices, supervised by the watchful eye of the Central Bank.
This Wednesday, the recovered amount was recovered, up to USD 225.3 million in the spot segment. The “improvement in private supply it exempted the BCRA from selling foreign currency in the market and, on the contrary, allowed it to make purchases that fixed a floor to the price, “said Gustavo Quintana, PR Corredores de Cambio agent.
A brake had become evident on the previous wheels in foreign exchange earnings, due to the paralysis of economic activity, which forced the BCRA to part with dollars to tighten the reins on prices, in exchange sessions with few volumes operated below 200 million.
In this regard, it is worth highlighting the decline in international reserves, now below 44,000 million dollars. Last Friday they subtracted USD 121 million and ended in USD 43,829 million, the lowest amount since last December 12, with which they accumulate a decrease of USD 956 million in the last eight days.
The dollar share price recovery and, to a lesser degree, in bonds, enabled a slight decline in equity parities. The dollar “Counted with liquidation” descended from 88 pesos this Wednesday, after having finished last week at 91.66 pesos.
Meanwhile, the marginal market does not mark activity since the establishment of the quarantine in Argentina on March 19, a day in which 84 pesos were operated.
The stability of the dollar in Argentina should not be surprising strict restrictions to private demand, but above all for the poor liquidity of pesos with companies and families, with an activity practically paralyzed at least until the end of the month.
In this regard, the Central Bank announced that the bank clearing will reopen this Thursday 26, so that companies can pay their salaries. “It was not a minor issue in these times of quarantine and downturn, and when Argentines need money to cover their basic needs, they remain in their homes,” he stressed. Investments Personal Portfolio.
All emerging currencies were devaluing against the dollar. The trend started in January, but deepened in the last month and a half. Only in March, the Mexican peso fell 21%, followed by the Russian ruble (-15%), the Colombian peso (-14%), the Indonesian rupiah (-13%) and the brazilian real (-12%).
“On the other hand the argentine peso -official- only fell 2.5%, thanks to the current stocks, what generates increasing currency delay With respect to the other emerging currencies, although we still continue with some margin since the peso devalued during 2018 and 2019 stronger than the rest of the countries, ”said Portfolio Personal.