Dollar today: the free quote fell to 181 pesos after the primary elections

The free dollar ended up being operated on this Monday with a decrease of 4 pesos or 2.2% in the first round after the primary elections, at 181 pesos for sale. The electoral result contrary to the ruling party has produced a certain relaxation in this marginal position, with demand falling and prices giving way.

It was the the biggest drop in the free dollar since April 28, four and a half months ago, when he gave up eight pesos a day.

The “blue” dollar neutralized with this fall the increase it had experienced in September, while since the beginning of 2021 the greenback has only risen by 15 pesos or 9%, against inflation which has exceeded 30%. over the period.

On the other hand, the dollar wholesaler, where the Central Bank intervenes in liquidity regulation operations, terminated an agreement with $ 98.19 and an increase of ten cents a day.

This interbank exchange rate, the benchmark for foreign trade, has increased by 16.7% since the start of the year, while the exchange difference with the free dollar it adjusts to 84.3 percent.

The first round of the week offered a significant amount of $ 488.8 million traded on the spot segment, when private sources estimated a positive balance of just over $ 15 million for the Central Bank for your intervention.

Gustavo Quintana placeholder image, agent of PR Corredores de Cambio, indicated that an “improvement of the offer allowed the BCRA to end the day with a favorable balance sheet for its intervention”, thanks to a “good volume of business in the first round of the week, with clear control of foreign income ”.

Although the BCRA ended its intervention with a favorable balance on both Friday and Monday, it should be noted that over the past three weeks the central bank it was really like currency exchange provider in the market, to cover specific shortages in times of declining agricultural liquidations.

So far from September, the monetary authority sacrificed to its intervention of large $ 477 million, which extend to $ 825 million as of August 26.

Last week, Reservations The Central Bank’s international transactions decreased by USD 272 million and ended in 45 761 million of dollars.

The Economist Gustavo Ber, head of the Ber study, recalled that the Central Bank “is also coming accentuate efforts between financial dollars, seeking to keep them relatively calm, and awaiting policy readings that would set the pace to continue dealing with these challenges, especially when the prospect of larger monetary issues”.

Connoisseurs of Personal investment portfolio they felt that “on the basis of Alberto Fernández’s speech, we consider that the ruling party will try to reverse the result. Therefore, we can see a larger than expected deterioration in the fiscal plan and a higher level of monetary assistance. Of course, this hypothesis would be accompanied by increased pressure on the exchange rate differential and on prices”.

“We can see some calm in the treasury with the liquidation, although the outlook is not very encouraging going forward. A situation of reduction in country risk, rise in bonds and equities, and in turn, rise in the exchange rate. The other question raised by this scenario concerns the agreement with the IMF. A more aggressive economic policy casts doubt on the possibilities of closing the deal in the short term. The IMF does not want to rush in the midst of a potential deterioration in economic conditions and without having the guarantee of possible conditions, ”they described of Personal Portfolio.

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