The dollar bounces 3 cents after two wheels down

The wholesale dollar rose 4 cents today to $ 27.43 in the MULC, after recording two consecutive decliners.

With the same trend, the retail dollar climbed 3 cents to $ 28.06, according to the Central Bank average (BCRA). On the screens of Banco Nación it was kept at $ 27.90 for sale

At the auction held daily by the BCRA, on behalf of the Department of Finance, the amount granted was from $ 100 million. The average price cut was $ 27.3925, with a minimum price of $ 27.3820.

Yesterday, in a scenario of " Quiet Exchange ", the US currency registered a further 10 cent decline to approach the $ 28 of the average quote that the BCRA [19659007] and even break through this barrier in some entities.

"The effects of the monetary corset imposed in order to dilute the exchange pressure, added to a better climate in the rest of the regional markets were combined to recreate a scenario that depresses the value of the dollar, rejecting it for the moment as a factor of financial disruption, "said the daily PR Cambios yesterday.

Is it time to dollarize?

Pablo Castagna, director of Portfolio Personal, badured that for a conservative profile " is clearly a good scenario for dollarization in the capital market ".

"He would take advantage of treasury bill offers (Letes) that allow retail investors, through these instruments, to obtain a wholesale exchange rate," he said in a conversation with El Cronista .

In addition, he notes that in the futures market (Rofex), dollars are traded at $ 32 in December, implying a direct devaluation of 16%, virtually the same rate as for an annualized Lebac. This means that an investor with a conservative profile would not be at risk of exchange rate.

For a more moderate risk profile, Castagna said it would take advantage of this type of change to dollarize the portfolio via bonds. For example, AY24 which gives 7.60% per annum in dollars.