The dollar has already reached 61 pesos

• The result of STEP is felt in the foreign exchange market.
• The currency continues to rise and exceeds all expectations.

The political shock caused by the overwhelming defeat of the party in power, attributable to the formula presided over by Alberto Fernández and Cristina Kirchner, has repercussions on the prices of the various segments of the foreign exchange market and the financial market.

In private banks, it sells between 60 and 65 pesos, up 30%. In the branches of the National Bank, 61 pesos are offered. This is the most brutal price increase compared to the 36% rise in the dollar of December 17, 2015, when the administration of Mauricio Macri lifted the exchange control, known as " stocks ".

In the wholesale trade, the first operation was approved at 59 pesos, in order to easily exceed the theoretical "ceiling" of the band fixed by the Central Bank at 51,448 pesos.

In this increase, the value of the dollar accumulates an increase of 51% so far in 2019 and again exceeds the rate of increase of the rest of the economy's prices, given the fact that the Inflation has slightly exceeded seven months after 2019 It reaches 25%.

The big question of the place of exchange is whether the Central Bank will make cash sales in dollars, since the International Monetary Fund, which provides the dollars, has authorized the entity that presides Guido Sandleris to sales in order to avoid "disruptive" price movements, such as those that clearly occur the same day.

Economist Martín Tetaz said the government should "break the wave of badet sales that we will see this week, the country risk will fly and the stock market collapse." Also, according to the recovery of the Central Bank, the dollar significant reserves, a phenomenon that will intensify at the expiration of time.

Source: Infobae