The dollar has approached the $ 40 and returns to the value of September

The dollar traded with a strong uptrend and closed its listing at $ 39.72 on the sale. The currency has not reached these values ​​since the end of September, when Luis Caputo resigned from the presidency of the Central Bank.

The dollar has traded today with a strong upward trend and closed its listing at $ 38.03 for the purchase and at $ 39.72 for the sale, which during the course of the year last two days of operation increased by more than $ 2.50 and added the fifth rise consecutively.
On average, the ticket closed below 40 USD, but many banks have proposed late in the day above this value, as in the case of Galicia, Francés, HSCB and Itaú.
The volume of transactions in the cash sector exceeded $ 723.6 million and that of futures in the open electronic market was $ 249 million.

The rise of this Monday

"The disarmament of the peso positions, the principle of compensation for operations that expire Thursday, among other factors, have justified the significant jump in the exchange rate," said the currency changer Gustavo Quintana.
He added that "since the end of September and the beginning of October, the wholesale market exchange rate has not fluctuated above 39 dollars" and baderted that " the strength of the demand and the lack of supply combined to create the conditions for another significant increase in the exchange rate ".
As for the wholesale dollar, he estimated that "after opening at $ 37.40 and after reaching the minimums at $ 37.25, the demand sparked a new rally that allowed us to Reach $ 38.10 highs with a lot of volatility ".

Why the dollar goes up

"There has been disarmament of the positions in pesos, plus the bottleneck that has generated the holidays in the United States, added to the close of late Thursday, because the G20 will not participate Friday in operations ", he explained during a dialogue with El Cronista Gustavo Quintana of PR Changes.

For its part, financial badyst Christian Buteler recalled that this is added "last week, Leliq and Lebac had weights, in full rate decline."
"This means that at a certain point, the banks will also have to lower the fixed rate, because the funds that go to Leliq come from fixed-term funds, lower the rate, lower what the bank offers," he said. points out.
And he added, "In 2018, we learned that whoever goes out and dollarizes is the one who gets the cheapest dollar."

Forecasts

Tomorrow, the Treasury will place Lecap, Letes and Bonos Bote to capture the pesos left free in the market and avoid further pressure on the exchange rate.
For Buteler, "if the BCRA had gone to install before, it would have paid a higher rate and would have had a negative financial result." "Here the question is what do they want to do with the exchange rate.I do not see the nervous government with this type of change, you have to remember that they did not want to buy if they were puncturing the ground, "he recalled and warned," Two days of 3% rise, it's starting to get worse. " 39, worry a little ". Source: (NA-El Cronista).