With regards to the end of a very complicated week for the forex market, The blue dollar closed with an increase of just one peso at $338, but thus set a new historical record., As such, the difference between the official exchange rate and the illegal exchange rate traded in the secret caves averages around 160%. This figure surpassed the maximum spread recorded in October 2020 (150%).
According to market sources, the trading volume in the spot segment was USD 301.175 million, in futures MAE was USD 535.104 million and in Rofax was USD 1.092 million. Without the presence of demand for energy payments and with systems of financial institutions adapting to the new provisions, the supply of foreign exchange was dominant and allowed the recovery of reserves for the Central Bank. The Monetary Authority ended the day with a positive balance with a purchase of around US$45 million due to its intervention.
For its part, the retail dollar traded at $128.37 for buy and $136.61 for sell, up 29 cents from yesterday’s close. Following the same curve, the Solidarity Dollar traded at $238.98.
Meanwhile, in the stock market, the dollar rose 2.7% to $320.78 per unit with liquidations, and the MEP dollar fell 2.4% and traded at $313.83.
The S&P Merval index rose 0.28% and stood at 112,285.40 units after the median in the Buenos Aires market, while shares of Argentine companies on Wall Street were volatile. In the leading panel of the local stock market, the papers of Grupo Superville and Ternium recorded gains of 7.11% and 6.47%, in that order.
Argentine companies’ ADRs on the New York Stock Exchange operated uneventfully, with Banco Superville up as much as 14.4% and Mercado Libre shares down by up to 4.1%.
In the fixed-income segment, bonds in dollars declined by 2.6%, and titles in pesos rose by 2.1%. thus country at risk rose 3.7% to 2,942 basis points.