Saturday, October 1, 2022

Fiscal dollar falls over $7 and closes at six-week low

in return, MEP Dollars -Also valuable with Global 2030- It fell $3.34 (-1.2%) to $275.78, its lowest price in two weeks. In this way, the difference in comparison to the official exchange rate gave way. Al 103,8%.

In the informal market, the blue dollar fell by $4 (-1.4%) to $291, according to a survey conducted by mbito on the currency’s black market.

“The strong growth in the interest rate (about 10 percentage points to 69.5% a year) is allowing the relative peace between the fiscal dollars to extend, as the progress of the economic landscape is monitored, with some operators tempted by carry. -Trade strategy, even recognizing the associated risks and the need for careful “timing”, he commented on the tables.

Meanwhile, Massa is working on new announcements to defuse tensions, with investors awaiting the execution of commitments such as To reduce fiscal deficit, strengthen Central Bank (BCRA) reserves, reduce inflation and promote more trade.

“The Massa plan has already taken its first steps in fiscal and monetary matters, such as a possible increase in tariffs and an interest rate hike. However, measures are still lacking in the most urgent sector, which is the exchange market,” Fundcorp’s Roberto Geretto said.

“While rejecting devaluation by the government, the expectation is that there will be different types of exchange for certain sectors—agriculture, oil, etc. It will not be a fundamental solution, but it will work to profit if it is successful.” some reserves and thus time”, he pointed.

The government on Tuesday announced reduction in subsidies for electricity, gas and water consumption.

“A change in macroeconomic direction will need to be confirmed, as a necessary but sufficient condition, for the market to once again look favorably on the (bonds) segment and the prospects of (presidential elections) heading towards 2023. Huh” , Portfolio Personal Investments said.

For its part, the country risk prepared by Bank JP. morgan fell 47 units to 2,371 basis points In the direction of closing the local square.

“The set of measures in recent weeks will have a quasi ‘conservative’ approach in terms of adjustments to interest rates and public accounts, with conflicting effects on the fiscal and quasi-financial deficits”, Delphos Investments reported.

official market

for its part, The dollar in the wholesale segment rose 0.6% to $135.33, With regulation from BCRA, which bought some US$20 million this Tuesday, with it accumulating acquisitions for the past four days of operations for some US$40 million.

The Monetary Authority wants to restart foreign exchange purchases due to the weakness of its reserves and firm commitments to energy payments. “The current dynamic is volatile and with some sort of measure in this area the outcome shouldn’t be too far away. We don’t think that prudent leap is the option at hand, far from it. But something has to be done, and so on”StoneX Brokerage Estimated.

“The chaos of the economy is related to the gap. It generates all the distorted incentives for you. A difference of 50% is not the same as one in 120%”, Economist Andres Borenstein said.

in this context, Savings Dollar or Solidarity Dollar-Including 30% of country tax and 35% of income tax and personal property deductible- increased from $1.50 to $234.98.

In return, the assumption of a 45% deduction from tourist dollars or cards—retail plus country tax, plus income tax and personal property— It increased by $1.59 to $249.22.

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