Business Dollar today: the blue rose to $ 126, but...

Dollar today: the blue rose to $ 126, but the liquidity plummeted 4%, in a market attentive to the exchange

The dollar blue was agreed this Friday with an increase of a weight or 0.8%, to $ 126 for sale, with a price adjustment of 12 pesos or 8.7% with respect to the maximum of $ 138 on Friday of last week. The gap with respect to the wholesale officer it reached 84.8 percent.

Highlighted the abrupt 4.3% decline in equity parities counted with liquidation and MEP, due to the increase in quotations in dollars of Argentine stocks and bonds, before the investor bets for a successful debt swap, now with a deadline of June 2.

A week closes in which the official initiatives allowed contain the increase of the alternative prices of the dollar and reduce the gap by about 20 points exchange, which last week had reached a record above 100 percent.

This Friday, the dollar wholesaler closed offered with a minimum increase of nine cents, at 68.18 pesos. Over the course of 2020 it increased by 13.8 percent. The regulatory intervention of the Central Bank’s liquidity, to set the gradual rate of increase in the exchange rate, entails the cost of falling reserves, after adding nine consecutive wheels with net seller balance.

The amount operated in the interbank circuit added scarce 176.1 million of dollars. “The volume traded today is the lowest of the week and sinks the May average below USD 200 million newspapers ”, he specified Gustavo Quintana, agent of PR Corredores de Cambio.

“The BCRA continues to regulate the plaza to only validate a gradual sliding of the wholesale dollar, even though it continues to accumulate reserve drainage, “said the economist Gustavo Ber.

A point positive on the wheel was the descent of some five pesos at equity parities, counted with liquidation and MEP, which ended in $ 113.92 and 110.37 pesos, respectively.

“The market is very overbought in dollars. At blue dollar market no volumethey come tax maturities Very strong: between Tuesday and Wednesday you have to pay Earnings, in June the first installment of the advances of the year, Earnings in physical person plus Personal Assets, and if this were not enough, in July the Christmas bonus. The Central Bank confident that there will be liquidations of export, and sales of more particular companies to face tax maturities “, described the economic and market analyst Salvador Di Stéfano in a report.

“These quotes will depend on the news that is coming regarding the restructuring of the debt, while the measures taken by the Government to contain these prices will have at most effect in the short term to sedate the cash with liquidation and the MEP but the demand will not disappear in case the debt restructuring becomes complicated, “stressed a report by Investments Personal Portfolio.

The Bookings BCRA international markets fell USD 110 million on Thursday and reached USD 42,840 million, the amount of gross assets lowest in three years, from USD 39,884 million on January 25, 2017.

The decrease in the level of reserves gross was driven in the last month by the deposit withdrawal in dollars. Since Monday, April 20, when the quarantine for customer service in banks was relaxed, more than 1,200 million dollars left the financial system.

Meanwhile, the dollar deposits fell to the lowest level since November 7, 2016. Private sector dollar cash deposits declined a few USD 1,211 million or 6.6% from USD 18,289 million on Friday, April 17, before the relaxation of customer service in banks, to USD 17,078 million May 19.

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