Tuesday, August 9, 2022

Dollar Today: Blue Falls Again, But Financiers Move On

The Blue Dollar continues to decline. After the strong rise last week, when it was $20 above financial exchange rates (during Friday’s trading session), today’s unofficial ticket takes a step back. But this is not the case with MEPs and Cash with Liquidation (CCL), as they resume the uptrend in the second round of the week.

yes, The blue dollar sells for $320. This is a drop of $2 compared to the previous day (-0.6%), a drop of $18 accumulated (-5.6%) so far this week. However, given the path he took in July, It is still up $81 (+33.8%).

“It has been going down, it has gone up a lot in a very short period of time. Nobody wants to sell the dollar these days, however, in the past few weeks many people bought because they feared it would go higher. But I’ve been on the road for many years, when the dollar climbs a lot it gets expensive, after a few days it rearranges itself.Confessed to a small tree on Florida Street, which kept its name a secret.

On the other hand, after two rounds of declines, financial exchange rates are rising. The MEP dollar, a tool that allows Argentines to convert to dollars through the buying and selling of bonds legally and without exchange rate, is introduced into the market. $326,45, They are $7 more (+2.1%) than yesterday and $78 (31.6%) so far this month.

City Portena, Buenos Aires 7/4/2022. Exchange and Movement House inPATRICIO PIDAL/AFV

cash with settlement (CCL), An instrument used to liquidate dollars in a bank account outside Argentina, is located in $332.56. This is a daily climb of $6 (+2%) and, so far in July, it is up $80 (+33.7%). Last week the Central Bank (BCRA) tightened shares through seeder, cryptocurrency and negotiable obligations, in an effort to control CCL. However, its impact on economists is beginning to diminish.

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“Following regulation on seeders, measures that typically generate short-term relief before rebalancing positions, fiscal dollars were more sustained. But the search for coverage continues, in a context where political noise and many economic challenges are spreading, Among them is the dynamics of ‘more pesos, less dollars'”, explained Gustavo Ber, head of Estudio Ber.

Despite the fall in free prices, the gap remains at historically high levels. Today, the official wholesale dollar is sold at $130.40.Hence the difference from blue is 146%.

“In a state of extreme stress, The agenda for the week will be marked by measures announced by the government to control the exchange gap, And for Sylvina Batakis’ visit to Washington”, he told Cohen Investments.

In Banco Nación, the official retail dollar screen at $136.75 . appears on, To get the “Savings” dollar value, 30% PAIS tax and another 35% must be added to the profit account, giving a value of $225.63. The “card” dollar, with a 45% withholding for earnings, reaches $239.31.

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The decision to be made by the United States Federal Reserve (Fed) comes a day after interest rates are known to rise, which is expected to rise 75 basis points in an effort to counter North American inflation, Argentina’s risk is a bit relentless and is close to breaching the 2900-mark.

The index produced today by JPMorgan, which measures the difference paid by United States Treasury bonds to the rest of the country, Produces 24 units and stands at 2,903 basis points (-0.8%), However, sovereign titles turn red by the day: overseas, global 2035 falls by 1.9%.

As far as the stock market is concerned, Today S&P Merval is trading at 120,626 units (+0.9%). “More liquidity of the market is added to cover search Following the measures taken on Friday, which eliminated most of the companies that made Merval,” he added of Cohen Investments.

whereas, Argentine stocks listed on the New York Stock Exchange (known as ADRs) show mixed variance. On the one hand, Cresud (+2.6%), Banco Macro (+2%) and Transportadora de Gas del Sur (+1.5%) gained. On the other hand, Unicorn Despegar (-3.8%), Mercado Libre (-3.6%) and Globant (-2.1%) fell.

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
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