Why has the price gone up to $ 40 in the city?

The foreign exchange market started the last week of the month with a sharp rise in most segments that compose it, in a context where operators are starting to badyze what to do before the imminent start of the last month of the year, which usually shows a certain level of volatility.

In the retail sector, the price of the currency closed at $ 39.97 compared to $ 38.50 at the end of last Friday. The jump of the ticket has pulverized the profit of those who bet on badets in pesos. Hard blow for the "financial bike".

As shown by the survey conducted by the Central Bank, the breakdown by entity is as follows:

– Nation: $ 39.90

– Banco Galicia: $ 40.10

– ICBC: $ 39.75

– French BBVA: $ 40.04

– Supervielle: $ 40

– Santander Rio: $ 40

In the wholesale segment where banks and large companies operate, the price of the ticket closed at 39.05 dollars, a peso of forty-five cents above the end of last Friday.

The rise in the dollar was also boosted by a significant flow of business. Trading volume in the cash sector amounted to USD 723.69 million and MAE futures volume to USD 249 million.

Since late September and early October, the wholesale exchange rate has not exceeded $ 39 per unit.

"The strength of demand and the lack of supply have combined to create the conditions for a further significant rise in the exchange rate," said Gustavo Quintana, operator of PR Cambios.

With this rise, the US currency accumulates a series of five consecutive wheels upward, Under the effect of a strong current of purchase, after the increase of the liquidities in the plaza generated by the release of the funds after the last mega auction of Lebac, for which the BCRA overturned about 122 billion dollars .

For some badysts, to this would have been added the gradual disarmament of positions in pesos, including several investment funds, in the middle of a holiday that paralyzed operations on Wall Street.

The wholesale market, meanwhile, shows a clear upward trend, after a start of ups and downs, since it reached the minimums of 37.25 dollars and the maximums of 38.60 dollars per unit .

According to badyst Gustavo Quintana, there would have been "a disarmament of positions in pesos, principle of compensation for operations that expire Thursday, among other factors that justified the significant jump in the exchange rate."

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